Ageas Protect has entered the relevant life insurance market with the launch of a new individual proposition.
The new individual policy allows businesses to provide life insurance for its employees outside of a group scheme, enabling both the employer and employee to benefit from tax relief advantages.
Ageas Relevant Life Insurance offers a policy written into trust for the insured beneficiaries from the outset, using a discretionary (split) trust to provide the policy benefit should the employee die or be diagnosed with a terminal illness.
It also offers between 15 and 25 times maximum salary amount (compared with group schemes, which typically only cover up to four times salary amount).
It also includes free medical advice from Best Doctors and child bereavement counselling from Winston's Wish.
Darren Spriggs, managing director of Ageas Protect (pictured), 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.
"Having launched Ageas Business Protection last year, which has been extremely well-received, our relevant life insurance is the next stage in Ageas's drive to provide protection for businesses, and is a welcome addition to our overall proposition."
