Financial support for your employees and their loved ones
Group Life Assurance is commonly referred to as ‘Death in Service’ and is one of the most highly-valued employee benefits that you can offer employees. It enables employers to provide a lump sum payment to an employee’s family, children or any chosen beneficiaries if the employee dies while employed within your organisation.
Benefits are normally based on the employee’s earnings (for example, 4 x annual salary) and can be tailored to meet the employer’s specific needs and those of their staff.
Group Life Assurance has always been a popular and affordable benefit, it can play an important role in attracting and retaining talent, while at the same time demonstrating your duty of care as an employer.
Benefits for your business
- Cost-effective benefit to provide. Plus many Life Insurance policies include added-value features to support employees’ & their dependents.
- Tax efficient as premiums are not normally taxed as a benefit in kind for employees.
- Supports talent retention and recruitment strategies in a competitive employment market.
- An expected and valued employee benefit
Benefits for your people
- Provides financial peace of mind for employees and their loved ones in the event of the employee dying.
- Employee’s family receives a tax-free payment. As the lump-sum payment doesn't usually form part of a member's estate, it should be free of inheritance tax.
- No medical underwriting in most cases.
Expert guidance and support
If you're considering group life assurance for the first time or looking to review the benefits you have in place, our team of expert consultants can help you navigate the complex landscape of employee benefits. With years of experience in the field, they provide independent and impartial advice tailored to the unique needs of your business, your valued employees, and your budget.
You can rest assured that when you work with us, you'll be in good hands every step of the way. We're dedicated to helping businesses like yours make informed decisions that enhance both your employees' wellbeing and your organisation's success.
We're always here to help
Group Income Protection
Group income protection provides financial support for employees who are unable to work because of a long-term illness or injury. Group income protection insurance covers an employee’s salary while they take time off and it can provide access to rehabilitation specialists to help them recover and return to work as quickly as possible.
Group Critical Illness Cover
Critical illness cover provides your employees with a tax-free cash lump sum if they are diagnosed with a specified serious illness or condition (subject to the policy terms and conditions).
For example, a heart attack, cancer, stroke, or multiple sclerosis. This can happen to anyone, at any age, often unexpectedly. Your employees will be reassured knowing that, should a life changing diagnosis be given, they will receive a tax-free lump sum which they can spend however they choose.