Ageas enters ‘relevant life’ insurance market

Ageas Protect has announced it is entering the ‘relevant life’ insurance market, as it continues to expand its business protection product suite launched in 2013.

The new individual policy allows businesses to provide life insurance for its employees outside of a group scheme, enabling both the employer and employee to benefit from tax relief advantages, as well as offering “comprehensive life insurance benefit” for employees.

The policy will pay out should the employee die or be diagnosed with a terminal illness and is provided for employees aged 17 to 74 years of age. The maximum age on entry is 71 years old.

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Darren Spriggs, managing director of Ageas Protect, said: “The most important part of any business is its people, and we are delighted to be entering into this important market having designed a product fit for purpose, in conjunction with consumer research and continually listening to financial advisers.

“Having launched Ageas Business Protection last year, which has been extremely well-received, our relevant life insurance is the next stage in Ageas’s drive to provide protection for businesses, and is a welcome addition to our overall proposition.”