Relevant Life Plan Calculator
See exactly how much a business owner or director could save each month by structuring life cover as a Relevant Life Plan instead of an ordinary personal policy.
Ordinary Life Policy
Paid from Gross Personal Income
Relevant Life Plan
Paid as Allowable Business Expense
Your Monthly Saving
Minimum monthly saving using a Relevant Life Plan: £98.13 (a saving of 54.8%)
This calculator provides an estimate only based on the rates entered and does not constitute tax or financial advice. Actual savings depend on your individual and company circumstances — always confirm with a qualified accountant and one of our advisers.
What is a Relevant Life Plan?
A Relevant Life Plan is a type of death-in-service life insurance that a limited company can set up for an employee or director. Unlike a personal policy, the premiums are treated as an allowable business expense — meaning they attract Corporation Tax relief and are not subject to Income Tax or National Insurance for the employee.
By comparison, an ordinary personal life policy must be paid out of income that has already been taxed, meaning you need to earn considerably more gross income just to cover the same monthly premium.
This calculator provides an estimate based on the rates you enter. Always speak with a qualified accountant and one of our advisers to confirm the exact savings for your business.
Want to set up a Relevant Life Plan for your business?
Speak with our advisers to structure tax-efficient life cover for you and your team.
Book Free ConsultationThis calculator provides an estimate only.
Tax rates and reliefs can change. Always verify current rates and seek professional advice for your specific situation.