Relevant Life Insurance

Protecting each director's family

‍In a multi-director company, each director typically has dependants who rely on their income. Relevant Life Insurance provides a tax-free lump sum to a director's family if they die while the policy is in force, giving them a financial cushion at the worst possible time — without the cover appearing on a director's personal tax return.

Tax relief on the premiums

‍Because the policy is arranged and paid for by the business rather than the individual, premiums are usually treated as an allowable business expense. This means the company can typically claim corporation tax relief on the cost, there's no income tax to pay on the premium, and — because it's structured correctly — no benefit-in-kind charge either, making it one of the most tax-efficient ways to provide life cover for directors.

One policy per director, not one for the company

‍Unlike some business protection products, Relevant Life cover is written on each individual director rather than on the company as a whole. With multiple directors, this usually means setting up a separate policy per person, each sized to that director's own income and family circumstances.

Straightforward to set up alongside other cover

‍Relevant Life sits comfortably next to the other protection a multi-director business typically needs — shareholder protection, key person cover, and income protection — without duplicating what those policies do. It's specifically designed to replace lost income for a director's family, not to protect the business itself.

Shareholder Protection

Keeping control in the right hands

‍When a business has more than one director or shareholder, the death of one of them creates a real risk: their shares can pass to a spouse, family member, or other beneficiary who may have no interest in — or knowledge of — running the company. Shareholder Protection is designed to prevent that disruption.

A tax-free payment to buy back shares

The policy pays out a tax-free lump sum directly to the surviving shareholders, giving them the funds to buy back the deceased's shares at a fair value. The remaining shareholders keep control of the business, and the deceased's family receives a fair cash settlement rather than an ongoing stake in a company they may not want to be involved in.

A legal agreement backs up the cover

‍Shareholder Protection is usually put in place alongside a cross-option agreement, which sets out in advance the price and mechanism for the share sale. This removes uncertainty and potential disputes at an already difficult time, since everyone has agreed the terms while all parties are still well.

Sized to reflect each shareholder stake

‍Because shareholdings are rarely split equally, cover is typically set individually for each shareholder based on the value of their shareholding, rather than using a single blanket figure across the business.

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Key Person Insurance

Protecting the business, not just an individual
Many multi-director companies rely heavily on one or two people whose skills, client relationships, or leadership are difficult to replace quickly. Key Person Insurance protects the business itself against the financial impact of losing someone in that position, whether through death or serious illness.

A lump sum to cover the gap
If a key person is lost, the policy pays a tax-free lump sum directly to the business. This can be used to cover lost profits while the business adjusts, repay any debts the business may struggle to service, or fund the cost of recruiting and training a replacement.

Who counts as a "key person"?
Cover isn't limited to directors — it can be arranged for anyone whose contribution is critical to the company's performance, such as a top salesperson, a technical specialist, or an operations lead, as well as founding directors.

Helps reassure lenders and investors
Having Key Person cover in place can also reassure banks, investors, or other stakeholders that the business has a plan for continuity if something happens to the people it depends on most — something that's increasingly asked about during lending or investment due diligence.

Executive Income Protection

Covering salary and dividends, not just PAYE
Directors often take a mix of salary and dividends, and a standard income protection policy may only cover the smaller PAYE portion. Executive Income Protection is designed specifically for directors, covering up to 80% of total salary and dividend income if illness or injury prevents them from working.

Paid for by the business, tax-efficiently
Premiums are paid by the company as a business expense, which can reduce corporation tax, and — provided the policy is structured correctly — there's no benefit-in-kind charge for the director either.

Cover for more than one director
In a multi-director business, each director can usually have their own policy sized to their own income, so the business isn't left exposed if more than one director is affected at different times, or if only one of several directors is unable to work.

Support while the business finds its feet
A claim is paid to the business rather than the individual, which means the company can continue to meet its obligations — covering the affected director's income, and helping keep things running smoothly for the remaining directors and staff while a longer-term plan is worked out.

Business Health Insurance

Faster access to treatment for the people who run the business
With NHS waiting lists remaining a significant concern for many, Business Health Insurance gives directors and, if needed, their families, faster access to diagnosis and treatment — reducing the amount of time a key decision-maker is out of action.

Cover that can extend across the leadership team
For multi-director businesses, cover isn't limited to one person — policies can typically be arranged for some or all of the directors, and often extended to include wider staff as the business grows, helping with recruitment and retention.

Paid for by the business
As with the other policies here, premiums are usually paid by the company, and depending on how the policy is structured, this can be a more tax-efficient way of accessing private healthcare than paying for it personally.

A practical addition alongside other protection
Business Health Insurance doesn't replace the need for life or income protection cover — it works alongside them, addressing the more everyday risk of ill health rather than the more serious risks those other policies are designed for.

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