Answered by Tom Conner
Relevant life insurance was primarily designed to provide small companies (those with less than 5 employees who are unable to obtain group quotes) take out a company paid life insurance policy in a tax efficient manner.
As a result relevant life cover should be used in a a similar manner providing a multiple of salary (often between 4 and 10 times gross salary) of life cover to said employees.
It has not been designed to directly protect any outstanding mortgage debt.
To make sure it is set-up correctly it is best to speak to a financial adviser, if you would like us to help please do not hesitate to call us on 0208 432 733 or email us at firstname.lastname@example.org
Our expert advisers will be able to talk you through the different options in more detail.
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