Can I pay for Life Insurance from my company?
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If you have taken out an ordinary personal Life Insurance policy then you should be able to pay from your own company bank account, however this will be taxed as a benefit in kind (P11D) so there is no major benefit in doing so. If however you have set up a Relevant Life Insurance plan which is personal cover that is tailored to be a deductible expense, then cover must be paid through your company and will not be taxable as a P11D benefit. If you opt for a business policy, then premiums can be paid through your company but taxation will depend on your choice of cover, i.e. Shareholder Protection, Key Person or Loan Protection.
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