Death In Service Insurance
Death In Service otherwise known as Group Life Assurance is a benefit that enables employers to provide a tax-free lump sum benefit payment, or sometimes a long term income, to an employee’s family or dependents if they should die whilst employed.
Why offer it?
Benefits to your business of providing Group Death in Service/ Life Assurance:
- A simple and low cost benefit, allowing you to provide a competitive benefits package by aligning yourself or differentiating yourself from your competitors
- Demonstrates that you are a caring employer and that you care about your employee and their family/dependants.
- Can be registered with HMRC and therefore benefit from corporation tax relief – making for a more cost effective benefit for an employer.
Premium costs can be as low as 0.25% of payroll payable by the employer, Group Life is usually one of the first benefits introduced into an organisation.
How we can help you
Chiltern can advise you on the most appropriate and competitive Group Death in Service / Life Assurance Scheme for your business, taking into account your organisation’s objectives, specific requirements and budget.
We undertake a thorough independent provider selection process based on your requirements and will assist you with communicating this benefit to your employees.
Our expert advisers are available to provide you and your business with the most appropriate solution.
Benefiting both your company and your employees.
Call us on 01494 451441 to discuss your requirements or email firstname.lastname@example.org .