Relevant Life Cover calculators
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.
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 2022/23 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 and may change in the future.
This calculator only considers tax rates for England, Northern Ireland and Wales and does not cover tax rates for Scotland.
This calculator only considers tax rates for England, Northern Ireland and Wales and does not cover tax rates for Scotland.