Legal & General | Relevant Life Policy

Legal & General offers a comprehensive relevant life policy designed to provide significant coverage for employees, tailored to their age and remuneration. Below are the key details of the policy:

Feature Details
Minimum Cover There is no minimum amount of coverage required. Driven by minimum premium.
Maximum Cover Depends on the employee’s age and remuneration:

  • Age 18 to 49: up to 25 x remuneration
  • Age 50 to 59: up to 20 x remuneration
  • Age 60 to 73: up to 15 x remuneration

Remuneration consists of salary, bonuses, benefits, and dividends from shares in the employer’s or related company.
Type of Cover The following types of cover are available:

  • Level cover
  • Increasing cover (increases annually with RPI, max limit of 10%; premium adjusted by RPI x 1.5, max annual increase of 15%)
Minimum Term
  • 1 year for level cover
  • 2 years for increasing cover
Maximum Term 50 years
Minimum Age 18
Maximum Age 73 years old to buy a policy (policy must end by the client’s 75th birthday)
Premiums Guaranteed (unless increasing cover is selected)
Premiums payable monthly or annually by Direct Debit by the employer
Trusts Policies must be placed into a Relevant Life Plan trust
Death in the First Year If the life insured dies within the first year of holding the policy due to suicide, intentional and serious self-injury, or an event where the life insured took their own life, the policy will be cancelled
Accidental Death Benefit Included
Changing Your Policy Can increase cover on certain specified events without need for further medical evidence (eligibility criteria and restrictions apply)
Continuation Cover Included
Additional Benefits Access included (service provided by RedArc Assured Limited)
RedArc offers ancillary benefits