Life Insurance as a contractor

[ujjain]

Quotes for life insurance is pretty affordable for people my age, around £15 per month for £300k (for my little brother) if I die.

I am considering signing up.

My question... can my business pay for this or do I?

[BolshieBastard]

Quotes for life insurance is pretty affordable for people my age, around £15 per month for £300k (for my little brother) if I die.

I am considering signing up.

My question... can my business pay for this or do I?

LOL! Do you know what 'wholly and exclusively' means?

[ujjain]

LOL! Do you know what 'wholly and exclusively' means?

Yep, I just don't want to "just assume" it's not possible. I'd like the confirmation.

[v8gaz]

Yourco can take out a 'relevant life' policy on you. IPSE do a very reasonable one.

[ujjain]

My only concern is that I pay IPSE £245.20 per year now and if I cancel my IPSE membership, my life insurance will be canceled too. And life insurance gets more expensive the older you are.

[Danglekt]

when I was on hold to contractor financials I am sure I heard them mention a company deductible one... no idea if it's any good like.

[Alan @ BroomeAffinity]

Yes you can. It's called a Relevant Life Policy. There aren't that many around so worth hunting for. The company can still pay for it if It's not the correct type of policy but it'll be a taxable bik.

[BolshieBastard]

Yes you can. It's called a Relevant Life Policy. There aren't that many around so worth hunting for. The company can still pay for it if It's not the correct type of policy but it'll be a taxable bik.

LOL! Well you learn something new every day!

[SlipTheJab]

Yes you can. It's called a Relevant Life Policy. There aren't that many around so worth hunting for. The company can still pay for it if It's not the correct type of policy but it'll be a taxable bik.

Yep got one of those, 600k for me and 300k for the misus at less than a hundred notes a month.

[PerfectStorm]

The trouble with Life Insurance, I find, is that you're never able to claim on it....