Relevant life cover, also known as relevant life insurance, is a type of life insurance policy designed for employers to provide a death-in-service benefit for their employees. This type of policy can be a tax-efficient way for small businesses to offer life insurance as a benefit to their employees. If you are in the market for relevant life cover, it is important to choose the right provider for your needs. In this article, we will explore the top 5 relevant life cover providers that you should consider.
1. Legal & General
Legal & General is one of the largest and most well-known life insurance providers in the UK. They offer a range of relevant life cover policies that are tailored to meet the needs of small businesses. Legal & General’s relevant life cover policies come with a range of benefits, including terminal illness cover, guaranteed premiums, and the option to add critical illness cover as an optional extra. Their policies are underwritten by one of the largest insurers in the UK, giving you peace of mind that your employees will be protected in the event of their death.
2. Aviva
Aviva is another reputable life insurance provider that offers relevant life cover for small businesses. Aviva’s relevant life cover policies are designed to be flexible and cost-effective, making them a popular choice among employers. Aviva’s policies come with a range of benefits, including the option to add critical illness cover, cover for dependents, and the ability to choose the level of cover that best suits your needs. Aviva’s policies are also underwritten by a trusted insurer, giving you confidence that your employees will be protected.
3. AIG
AIG is a global insurance provider that offers relevant life cover for businesses of all sizes. AIG’s relevant life cover policies are designed to be simple and straightforward, making them easy to understand and administer. AIG’s policies come with a range of benefits, including cover for terminal illness, waiver of premium, and the option to add critical illness cover as an optional extra. AIG is known for its excellent customer service and claims handling, making them a top choice for employers looking for reliable relevant life cover.
4. Zurich
Zurich is a leading insurance provider that offers a range of relevant life cover policies for small businesses. Zurich’s policies are designed to be flexible and easy to understand, making them a popular choice among employers. Zurich’s relevant life cover policies come with a range of benefits, including terminal illness cover, guaranteed premiums, and the option to add critical illness cover as an optional extra. Zurich is known for its financial strength and stability, giving you confidence that your employees will be protected in the event of their death.
5. Royal London
Royal London is a mutual insurance provider that offers relevant life cover for businesses of all sizes. Royal London’s relevant life cover policies are designed to be simple and affordable, making them an attractive option for small businesses. Royal London’s policies come with a range of benefits, including terminal illness cover, flexible premium options, and the ability to choose the level of cover that best suits your needs. Royal London is known for its excellent customer service and claims handling, making them a top choice for employers looking for reliable relevant life cover.
In conclusion, choosing the right relevant life cover provider is essential to ensure that your employees are protected in the event of their death. The top 5 providers listed in this article – Legal & General, Aviva, AIG, Zurich, and Royal London – all offer high-quality relevant life cover policies that are tailored to meet the needs of small businesses. By choosing one of these providers, you can have peace of mind that your employees will be taken care of financially in the event of their death.