Relevant Life Policy
A relevant life policy is an alternative way for an employer to set up life cover for an employee in a tax efficient manner without using a registered death in service group life scheme to benefit the employee’s dependents.
It is set up on a single life basis and is suitable for small businesses that might not normally be able to access this type of death in service cover. It has become increasingly popular with owners and directors of limited companies
The plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
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A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.