A Relevant Life Policy is a single life plan, taken out on the life of an employee by an employer to provide death in service benefits. They are designed for individual members who may require life cover over and above that of the main company scheme already available to them or, where the number of employees is too low for a company group scheme.
The company can make the payments, usually as an allowable deduction without them being treated as a benefit in kind, which means:
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