Relevant Life Policy
Relevant Life Policies are a cost-effective alternative or ‘top-up’ to group death in service benefit.
A loan that one or more persons receive in order to buy a house or other residential property in which they will live. The loan is secured by a lien on the property; the borrowers repay it over a specified period of time. The interest on a residential mortgage is tax deductible under most circumstances.
Many companies offer their employees a ‘death in service’ benefit, paying the employee’s family a lump sum if they die while they’re employed. However, this kind of benefit doesn’t suit every company.
There is however a tax-efficient and cost-effective alternative for both you and your employees. Save nearly 50% tax (compared to an ordinary life policy) and reward your people with discounts and rewards that help them lead a healthy lifestyle when you take out a Relevant Life Policy with VitalityLife.