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Legal and General launch new employee life policy

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Legal & General has launched Relevant Life Plan, a term assurance plan available to employers to provide an individual death in service benefit for an employee.

 

 It is designed to pay a lump sum if the person covered dies or is diagnosed with a terminal illness during the term. It can be a cost effective and tax efficient way for employers to provide death in service benefits for their employees, where the number of employees is too small to be eligible for a group scheme.

 

It is also aimed at high income earning employees or directors.

 

Alison Manning at Legal & General says, "The plan compliments our existing business protection and group life offerings. This is a tax efficient benefit hat employers of small businesses can provide for their employees, providing them with peace of mind should the worst happen".

Life insurance news: 7 November 2011