Ageas Protect has launched a new individual policy to allow businesses offer life insurance for its employees outside of a group scheme.
Called Ageas Relevant Life Insurance, the new policy will allow both the employer and employee to benefit from tax relief advantages.
According to Ageas, features and benefits of the new life insurance policy will include a policy written into trust for the insured beneficiaries from the outset; and cover provided for employees aged between 17 – 74 years.
Additionally, it will include maximum sum assured cover limits between 15 and 25 times salary amount; non-financial benefits included for both the insured and their family; and terminal illness cover, with no final year exclusion.
Ageas Protect managing director, Darren Spriggs, said: "The most important part of any business is its people, and we are delighted to be entering into this important market having designed a product fit for purpose, in conjunction with consumer research and continually listening to financial advisers."