Relevant life policies – tax efficient life insurance

Term assurance for directors and employees offers valuable financial security for businesses and their staff. These policies provide critical support during difficult times, ensuring peace of mind for employers and employees alike.

What Is Term Assurance?

Term assurance is a life insurance policy designed to run for a specified period agreed upon at the outset. It provides a payout if a director or employee passes away while employed, with the employer covering the premiums. Additionally, these policies can be configured to pay out if an employee is diagnosed with a terminal illness.

Why Is Term Assurance Important?

Term assurance for directors and employees ensures financial stability in challenging circumstances. For businesses, it protects against potential financial strain following the loss of a key employee. For employees and their families, it provides essential support during difficult times.

This policy is a practical way to demonstrate that a business values its employees and their well-being. It also helps employers manage risk while offering a meaningful benefit to staff.

Tax Advantages of Term Assurance

One of the key benefits of term assurance for directors and employees is its tax efficiency. Premiums paid by employers for these policies are not treated as taxable perks. This means there is no additional tax liability for employees, making it a cost-effective way to provide significant value.

How We Can Help

At Lewis Brownlee, we can guide you through the process of setting up term assurance policies for your business. Our team will ensure that the policies align with your goals, providing comprehensive protection for your team and your business.

For more information about term assurance for directors and employees, please contact us today. Visit our contact us page or speak to our expert team for tailored advice.

Secure Your Business and Team’s Future

With the right term assurance policy in place, you can safeguard your team and business while enjoying valuable tax advantages.