Business Protection
Relevant Life Insurance
Provide tax-efficient life cover for directors and employees with a Relevant Life Plan. Trusted advice from Elite Mortgages in Portadown, Belfast & across NI.
Tax-Efficient Life Cover for Directors and Employees
Looking for a way to offer life cover as an employee benefit—without triggering additional tax for the business or the individual?
A Relevant Life Plan is a smart solution. It allows a company to provide life insurance to an employee or director in a highly tax-efficient way—without the need for a group scheme.
At Elite Mortgages, we help businesses across Portadown, Belfast, and all of Northern Ireland arrange tailored Relevant Life policies to protect people and profits.
What Is a Relevant Life Plan?
A Relevant Life Plan is a life insurance policy paid for by a business, which provides a tax-free lump sum to an employee’s or director’s loved ones if they pass away during the policy term.
It’s written into a discretionary trust, so the payout goes directly to the beneficiaries—outside of the employee’s estate.
It’s ideal for:
Company directors
High-earning employees
Businesses that don’t have or need a group scheme
SMEs looking to offer valuable benefits without added income tax or national insurance
What Are the Key Benefits?
Corporation tax relief – premiums may be deductible as a business expense
No benefit-in-kind tax – not treated as a taxable perk for the employee
No impact on personal tax allowances
No inheritance tax on the payout
Flexible and portable – policies can move with the individual if they change jobs
High cover limits – often based on salary and dividends
This makes Relevant Life Plans an attractive benefit for retaining and rewarding key staff.
Who Can a Relevant Life Policy Cover?
Directors (especially of limited companies)
Salaried employees of a business
Typically available for those aged 18–73
Not available for sole traders, partnerships, or equity partners themselves
We’ll help you assess eligibility and choose the right structure for your business.
Why Use Elite Mortgages?
Specialist knowledge in business protection and tax-efficient insurance
Support with trust setup and policy structure
Independent advice from offices in Portadown and Belfast
Working with businesses across Northern Ireland
Transparent, friendly and experienced advisers
We make what can seem complex, simple—and tailored to you.
Protect Your Team, Tax-Efficiently
A Relevant Life Plan is more than just cover—it’s a benefit your directors or employees (and their families) will truly value.
Speak to our protection specialists today: