Answered by Tom Conner
Relevant Life Insurance was primarily designed to allow small companies (those with less than 5 employees who are unable to obtain group quotes) to 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. You would typically provide a multiple of salary (often between 3 and 15 times gross salary) of life cover to said employees.
It has not been designed to directly protect any outstanding mortgage debt.
Our expert advisers will be able to talk you through the different options in more detail.
Frequently Asked Employee Benefits Questions
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