Relevant life insurance calculator
Use this tool to estimate how much tax you will save with a relevant life policy. Get an exact quote via Broadbench, our partner IFA here.
How this calculator works
Corporation Tax is shown at 19% by default, although many companies pay a higher effective rate once marginal relief applies. Income Tax is calculated using the highest rate entered, commonly 40% or 45%.
Relevant life insurance is normally paid by the company and does not give rise to employee Income Tax, NICs or a P11D benefit, provided the policy meets HMRC’s qualifying conditions. Premiums are generally treated as an allowable business expense.
Savings can appear large because personal life cover is usually funded from heavily taxed income, whereas relevant life premiums are paid before tax.
This calculator provides an estimate only. For an exact figure based on your age, health and cover level, request a live quote below.