Can I pay for Life Insurance from my company?

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Home » Frequently Asked Questions » Can I pay for Life Insurance from my company?

Answer:

If you have taken out an ordinary personal Life Insurance policy then you should be able to pay from your own company bank account, however this will be taxed as a benefit in kind (P11D) so there is no major benefit in doing so. If however you have set up a Relevant Life Insurance plan which is personal cover that is tailored to be a deductible expense, then cover must be paid through your company and will not be taxable as a P11D benefit. If you opt for a business policy, then premiums can be paid through your company but taxation will depend on your choice of cover, i.e. Shareholder Protection, Key Person or Loan Protection.

If you have any more questions give us a call on 0800 567 7450 or if you would like more information on Life Insurance click here.

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Can I pay for Life Insurance from my company?

"Alan and his team were great! Alan helped get me cover where my own company could not (I work in financial services too!) Would highly recommend and will come back in the future."

"Krystle was fantastic throughout and managed to knock almost 50% off my current life insurance premium."

"Leanne couldn't have been more helpful and thoughtful with her questions and work on my enquiry."

"Kathryn and her colleagues were very helpful because of my recent illness."

"Nick was my advisor, Excellent knowledge of products and what I needed, not just pushing me into a sale/policy, will always refer to him in the future."

"I would like to say a very big thank you especially to Amy you really went above and beyond."

"Annaliese was absolutely fantastic, making us both feel at ease and helping us navigate issues that had caused us problems with previous attempts to obtain insurance."