This provides specialist insurance to cover lump sum death-in-service benefits for equity partners or members of limited liability partnerships. We can cover groups of 10 or more partners, and because it operates as an excepted group life policy, it avoids the need to pay tax relief at source.
Your contributions for partners don't generally qualify for tax relief as an expense of the business. But lump sum benefits will normally be paid tax-free unless the beneficiary is also a partner of the firm. Given the various tax issues, we recommend that you take specialist tax advice.
