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What is relevant life insurance?

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Simply put – place personal life cover on company expenses.
If you currently pay for your life cover from your own bank account you will be paying out of post-tax income, and if you pay for it from your business account you will probably be taxed on the payment as if it were income. 
Relevant Life Plan offers some very special advantages to directors and employees of small businesses, most notably tax efficiency. While the cover is personal to you and your employees, the policy counts as a business expense so it’s tax deductible. It’s also a cost-effective way to offer life cover to your employees if your business is not eligible for a group life scheme.
 Relevant life policy tax benefits are available to both the employers and employees:
    • You will save Tax by having the company pay the premium
    • The premium will not be included as a P11D benefit
    • Premiums are not subject to National Insurance payments for employer or employee
    • Your company can claim Corporation Tax Relief on the premiums
    • Benefits are payable tax free
    • Benefits do not count towards your lifetime allowance for pension purposes
The Opportunity
The Relevant Life Expert (a trading style of Broadbench Ltd, authorised by the FCA) can assign your own ‘Relevant Life’ page to market to your clients/members/affiliates and for good reason. It offers great tax savings to your clients/referrals, and can generate income for you.
      • You will be assigned your own personalised website link that tracks any client referrals for Relevant Life – (you’ll get your own URL)
      • Market/educate/discuss with your clients/members/affiliates and recommend the product along with your personal website link.
      • Those interested will then visit the site, watch the video, use the calculator and quickly see the great benefits that Relevant Life offers.
      • Referrals can call in or email for a quote or advice. A trained qualified adviser will then aim to book an appointment, complete a recommendation and ultimately make a sale. We’ll also try our best to recommend Health Care/Key Persons Cover and Income Protection, as you’ll receive referral fees on those sales too.
      • For each referral you will receive 10% of commissions we receive paid monthly in arrears.  If you want to sign up other affiliates to this opportunity (with their own client bank) you’ll receive 5% of the value of any referrals they generate (above and beyond their 10%).
      • You’ll benefit from a partner login to your own portal to see the value and stage of the campaign for each client.
      • You’ll be assigned an account manager, product literature, and marketing pack (complete with emails and a guide) so that you can start creating your own referrals with minimal effort.
      • What can you expect in referral fees? Our newest introducer referred eight clients last month and has generated £2500 from a small campaign on LinkedIn. 
 The Next steps:
      1. Contact Tom Hitchcock (Director at Broadbench) to discuss the opportunity on 01202 700053 or email
      2. We can then setup the website and marketing campaign
      3. Get referring
In summary, Relevant Life offers a huge opportunity to offer a simple, tax efficient life insurance product that provides real value to Directors and staff of Limited Companies. The benefits of cost saving, tax efficiency and writing the policy proceeds into trust really make this a compelling proposition.
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