What happens if you’re not around to provide for your loved ones?
It’s not a nice thing to think about, but if you’re a contractor and you pass away, how would your loved ones survive? This is where life insurance can provide the answer. It pays out a large one-off sum to help your family live after you’ve gone.
Life Insurance – what you need to know
- Provides your loved ones with a large tax-free, one-off payment or monthly payments if you pass away
- Can be used to pay the mortgage off or help your family with living expenses
- Monthly payments are tax deductible if you are a limited company
- You are covered only for the duration of the policy
- Cover only lasts while you keep up monthly payments
- Monthly payments can be reduced by combining this with a critical illness policy
Finding the right life insurance for you
If the unexpected happens, you’d want your family to be taken care of. You’d want the mortgage paid off and enough money for them to live. It’s important to get this right, which is why we work closely with you, making sure the cover fits their needs, but is also affordable for you. The policies we recommend are handpicked for contractors, and we’ll cut through any jargon so you know exactly where you stand.
What’s the difference between Relevant Life and Life Insurance?
Life Insurance is cover that you pay for with your own money. However, if you are set up as a limited company, you can pay for your Life Insurance through your business, as a tax-deductible expense, saving you 20%. This is known as Relevant Life Insurance.