FOR ADVISERS ONLY
Details of our Relevant Life Plan
Find out exactly how your clients can tailor the cover.
We offer relevant life cover for:
- up to 30 times annual total remuneration for clients aged under 40 years
- up to 25 times annual total remuneration for clients aged 40 to 49 years
- up to 20 times annual total remuneration for clients aged 50 to 59 years
- up to 15 times annual total remuneration for clients aged 60 years and over.
Total remuneration could include dividends, benefits in kind and bonus.
The cover is flexible - it can be written on either a level, decreasing or increasing basis.
The employee or their family can make a claim when the person covered dies or meets our definition of a terminal illness.
- Basis – single life
- Premiums – guaranteed payments
- Payouts – lump sum
- Amount of cover – level, increasing or decreasing over the term of the plan
- Term – minimum one year, maximum 57 years
- Renewable cover – five or ten-year renewable option available on level and increasing cover
- Age when cover starts – minimum 18 years old, maximum 73 years old
- Age when cover ends – maximum 75 years old
- Amount – unlimited cover
To help protect against the effects of inflation, your clients can increase the amount of cover over the term of their plan in two ways:
- Fixed rate – at a chosen rate of interest (between 2% and 5%)
- Index-linked rate – based on the change in the retail price index (between 2% and 10%)
Your clients can reduce the amount of cover over the term of their plan:
- Monthly – at a chosen rate of interest between 0 and 15%
We won't pay a claim if:
- The claim is for death and is the result of intentional self-inflicted injury within 12 months of the date the cover started,
- The claim is for a terminal illness and the person covered doesn't meet the definition of terminal illness defined in our plan details; or
- It’s the result of an exclusion shown on the cover summary
Terms and conditions
For full terms and conditions see our plan details
Last updated: 11 Dec 2015