Even though the Relevant Life Policy is for all the employees of a company for individual life insurance, but primarily, it is for the company directors. When a company cannot opt for a group life insurance scheme for all its employees, it is obvious that the company or employer will not go for individual relevant life cover for everyone. An employer or a company opts for relevant life cover for only a handful of employees especially the ones who are highly valued by the company for their positions. A Relevant life cover is sometimes referred to as company director life insurance policy as the directors are the highest paid employees in a company. The company wants to provide extra benefits to them to keep them in the company.

Benefits For Company Directors –

There is no doubt is in the fact that the directors are the highest paid employees. When a person is earning a good deal of money, he can surely afford a life insurance. That is why most of the high-earning employees opt for personal life insurance when the company does not provide one. A personal life insurance is necessary in order to ensure the future of his or her family in their absence. The reason is that accidents can happen at any time without warning and it is the duty of a person to take care of the future of his or her family so that members do not face any problem financially when they are gone.

But the higher the sum assured goes up in a personal life insurance, the higher will be the premium a person has to pay. It can take away a check from the monthly salary he is getting. But if the company opts for a company directory life insurance policy, the company will pay the premiums based on the sum assured. Therefore, a director can save a huge chunk of his salary and it is going to be financially beneficial to him. That is exactly why most of the employees who are worthy of begin directors opt for such companies that have Relevant Life Cover.

Moreover, the remuneration of such a life insurance is higher and based on the age of the employee along with the salary and bonuses he is getting. The remuneration is enough to secure the future of the entire family. It varies from 10 times to 25 times and the maximum limit can be 10 million currencies.