Group Life Insurance
Group Life Insurance (also known as Death in Service) is one of the simplest but most highly-valued employee benefits that a company can offer its staff. In the context of staff recruitment, this could be a crucial part of the benefits package.
Employees highly value the provision of this benefit because if they were to die unexpectedly, the life cover you provide could help to ensure their family could cope financially - relieving money worries at a very difficult time.
Group Life Insurance is not only advantageous to the employee as there are numerous benefits to an employer, the provision of group life insurance helps employers to recruit and retain the right staff, any premiums will normally qualify for tax relief (depending on scheme choices) and may cost less than 1% of your payroll expense, depending on the level of cover you choose.
As independent financial advisers, we can arrange cover on a bespoke basis allowing you access to the best possible terms.
These plans will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.