Bright Grey Relevant Life Policy: Things to Know

Bright Grey Relevant Life Insurance Policy

The Relevant Life Policy, as a possible means of setting up a death in service benefit for employees of small companies, has emerged as a favored option for many employers today. However in order to qualify for this cover you need to be an employer of a limited company having at least five employees but the number should not be equal to or exceed the minimum required for a Group Life Scheme. An employee here is named as the beneficiary.

Now, Bright Grey is one of the most renowned insurance carriers in the United Kingdom. It has earned considerable trust of insurance seekers in the relevant field by virtue of its advantageous schemes in offing for the customers. It has not been many years since this type of cover has started gaining popularity among people and Bright Grey as a trustworthy insurance provider has played a key contributed significantly to the success of these schemes in the market. Let us learn more about Bright Grey Relevant Policy:

  • The Bright Grey Relevant Life Insurance Policy provides substantial tax benefits for high earners.
  • If the beneficiary is 40 or more years of age the insurance will be sufficient to cover 15 times his yearly salary.
  • If the beneficiary is 39 or less years of age the insurance will be sufficient to cover 20 times his yearly salary.
  • High earning employees can keep the benefits separate from their pension funds
  • The pay outs can also be kept separate from other allowances.
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So much so for the employees, the employers are also significantly benefited by the policy. Find out how:

The employers are entitled to substantial tax benefits if the local tax inspector is convinced that the pay outs are part of the business expenses. Additionally the premiums are not subject to taxations as they are not considered to be benefits in kind.

The use of a Calculator:

The entire calculation of the premiums based on your needs, is a lot easier with the Bright Grey Relevant Life Calculator.

You can use the calculator to demonstrate to your employee how effective it would be to invest in a Relevant Life cover rather than in a traditional Life Insurance. The Bright Grey Relevant Life calculator helps you to calculate th premiums based on Rate Details, Taxation charges, type of cover, process of calculation etc.

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