Relevant Life and executive income protection
A unique benefits package
For intermediaries only
At Aegon, we can help you design unique employee benefits packages for your clients with small businesses who don’t have the scale to qualify for group risk schemes.
Our competitive Relevant Life policy lets employers provide tax-efficient(Opens new window) individual death-in-service benefits for employees (including employed directors). What’s more, we’re the only Relevant Life provider to also offer executive income protection, allowing you to provide your clients with a comprehensive employee benefits solution, with only one online application to be underwritten.
With executive income protection, employers can continue paying a salary to ill or injured employees while they’re unable to work. This can be a valuable addition, as statistically employees are more likely to be unable to work due to illness or injury, rather than die.
- We offer an immediate cover facility, subject to underwriting, providing up to £3.5 million cover.
- We automatically include up to 90 days’ accidental death benefit when our immediate cover facility isn’t in use.
- We offer a range of guaranteed insurability options, so your clients can increase their benefit amount without providing more medical evidence at certain lifestyle events.
- We offer a signature-free Relevant Life trust for online applications – making it quicker and easier to place your clients’ policy in trust.
- Your clients can choose whether to be a corporate trustee or not, as we understand it’s not always administratively appropriate, depending on the structure of the company.
- Our Relevant Life policy is portable when using either our signature-free trust or paper trust – giving the insured person various options when they move jobs.
Find out more about our Relevant Life policy, including what a relevant life policy is and who it’s suitable for, in our Relevant Life at a glance(Opens new window) leaflet.
- We can provide cover for employees (including employed directors) of up to £160,000 a year.
- A choice of benefit payment periods - either two years or full term to the benefit end date.
- We’ll help get employees back to work as quickly as possible, by offering proportionate and rehabilitation benefit – paying a reduced claim benefit while the employee gradually returns to work.
- As we pay the claim proceeds direct to the employer to pay to the insured person via PAYE, they’re classed as net relevant earnings – so as well as including cover for their employer pension contributions, the insured person could also continue to make personal contributions to their pension if they can afford to.
Find out how executive income protection compares to personal income protection in our Executive income protection – financial security for your clients(Opens new window) case study.
More than financial support
With both our Relevant Life and executive income protection policies, both your clients and their employee (insured person) will have access to Policy Plus, our range of support services.
Log in to our secure online services to apply.
Protection document library
Access all the forms and documents you’ll need when placing protection business with us.