Life policy and death in service security are provided by several companies globally. But there are few companies that are leaders in providing top-notch insurance service to their customers. If you are an employer looking to provide a relevant life policy to your employees then choosing Aegon relevant life policy is a wonderful decision that you can take. The company’s policy has helped smaller businesses to attract and even retain high-caliber staff as it provides attractive employee benefits and is also tax efficient.
Trustee flexibility required for Aegon relevant life policy —
Aegon is a big name in the field of relevant life policy and for this, you need to have trustee flexibility in your organization. If you want to implement this policy then the employer must arrange the policy to be mentioned in the trust for the employee’s benefit. This is important to have the legislative requirement for the policy and also helps in mitigation of inheritance tax. If the person whom you want to provide the benefit is a sole trustee or director then the trust will be locked up till another director is appointed in the business. There are two options that the company offers for policy – either you can become a trustee or not. Let us look at the advantages of each of them —
- Becoming a trustee – if you are becoming a trustee then the employer makes sure that the wishes of the employee are carried out after his death. This makes a huge difference in the life of the employee as well as his family and helps in employee retention.
- Not becoming a trustee – if you are getting the policy for a director then it is important to choose this option else the trust will be locked up if the director dies until another person is appointed in his place.
- Portability – The Aegon relevant life policy is portable so that the insured person can take the policy with him when he changes his job. The payments for the policy installments can then be paid by the employee or the new employer according to the agreement between the employee and the employer. If an employer makes this payment on behalf of his employee then he becomes eligible to receive tax benefits.
The company provides amazing financial support and is one of the best company to choose for your relevant life policy needs.