Relevant Life Cover calculators

How much cover?
How much could your client save?

This calculator shows the potential savings your client could make when arranging life cover for their employee through LV= Relevant Life Cover compared to an ordinary life cover plan.

Client name

Monthly premium

Employee Highest Income Tax Rate

Employee National Insurance Rate

Company Corporation Tax Rate

Employer National Insurance Rate

Savings from a relevant life policy

Cost to employee	Life Cover*	Relevant Life Cover
Monthly premium		N/A
Employee national insurance contribution		N/A
Employee income tax		N/A

Cost to employer	Life Cover*	Relevant Life Cover
Monthly premium	N/A
Employer national insurance contribution		N/A
Total gross cost
Less corporation tax relief
Tax adjusted total cost

Total saving with a LV= Relevant Life Cover Plan

A saving of

*Employee pays premium from net salary

These figures are for illustrative purposes only. Tax calculations are based on the 2018/19 tax rules and may change in the future. The information assumes that the same rate of Income Tax/National Insurance applies to the whole of the premium. It may be affected by individual circumstances.