If you are a limited company director or an employee it is possible for your company to set up a life insurance policy that will pay to your family in the event of your death. The cost of the life insurance is a tax deductible business expense and therefore the cost of life insurance set up as relevant life cover is more cost effective than paying for it from your post tax, personal income.

First published on May 18th, 2021

The information provided above is believed to be correct at the time of publication and is provided for information purposes only, it does not constitute advice. Any reference to interest rates or growth rates are examples only and are for illustrative purposes only. You should seek independent financial advice before making any decisions about your finances and financial products. We accept no liability for loss as a result of any action taken based on the information on this page where appropriate independent financial advice is not taken from Lakeside FS Ltd.