- Mon - Sun: 8:00am - 8:00pm
Relax, our advice is free
If you're a company director or business owner paying for your own life insurance, you may be able to arrange this more tax-efficiently. With a personal policy, you're paying premiums from income that's already been taxed.
Relevant life insurance is an alternative:
Your company pays the premiums as a business expense.
You don't pay income tax or National Insurance on the premiums.
Your family receives the full payout tax-free.
And your company may be able to claim corporation tax relief on the premiums.
However, relevant life insurance isn't suitable for everyone, and there are specific requirements that must be met.
We work with company directors to help them understand their protection options.
As well as relevant life insurance, you might also want to consider:
Key person insurance – key person (or keyman) insurance helps to protect a key employee.
Shareholder protection – shareholder protection insurance allows remaining shareholders to purchase the shares of a shareholder that has recently died or become seriously ill.
We'll help you understand your options so you can make an informed decision about your protection.
They’re generally considered to be an allowable business expense, so employees won’t need to pay income tax or National Insurance on the premiums.
No, lump sum payouts are not taxed.
Policies are available for employees between the ages of 16 and 73.
What People Think About BMG
Please call us using the telephone numbers below. Alternatively please use the contact form and we will get back to you as soon as possible.
