IPSE Life Assurance
We are delighted to be offering our members voluntary life assurance at a very heavily discounted rate compared to the retail market through Legal & General, starting at just £2.80 a month for £50,000 of cover. Voluntary life assurance cover will pay a lump sum if you die. It's a valuable benefit that can help your family and dependants financially.
Any IPSE member can sign up to this plan and take advantage of the group rate. The plan is entirely voluntary. This means you choose if you want cover, you pay for the cover, and you decide how much cover you'd like.
Members must complete a brief medical questionnaire - this is not sent to Legal & General unless by exception and is held in secure format by IPSE to be sent to Legal & General only in the event of a claim or by exception (exception means that the member has a notifiable medical condition which Legal & General must examine in more depth, it is not anticipated that there will be many of these and even then more than 80% still get coverage without any additional/extra premium).
Registration for the scheme, is completed through your Dasboard please contact the membership team on 020 8897 9970 or email them at firstname.lastname@example.org to set up your monthly payments. IPSE will collate all payments once a month and remit to Legal & General. Members' companies can pay the premium tax-free and without attracting benefit in kind charges.
If you have any further queries about the life assurance offer, please contact Legal & General on 01737 375283.
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Life Assurance Pricing Table
Life Assurance premiums can normally be paid by your limited company
In general, provided that the sum insured is not excessive your company can pay Life Assurance premiums and deduct them as a cost against corporation tax. Life Assurance premiums are not taxable as a benefit-in-kind and there will be no further tax to pay from either the company or the individual. IPSE's policy (at a maximum sum insured of £255,000) would not normally be considered excessive but please be aware that if you have other life insurance policies which are paid for by your company then it's the cumulative total of the sums insured which counts. Generally, and this will vary greatly depending on your own personal circumstances, total sums insured must be more than £750,000 or so to be moving towards being considered for the "excessive" level. IPSE advises that you seek confirmation from your independent financial regarding your own circumstances.Get Started