This is the most common employee benefit and is a must for discerning employers. Not only is Death in service relatively low in costs it is not classed as a benefit in kind and therefore attracts no tax.
Healthwise have arrangements for clients to gain preferential terms for Group Life cover for as few as three employees with no medical history required and cover up to 1/2 million pounds per employee.
Group Life Cover or Death in Service benefit is where on the event of an employee's death their spouse or beneficiaries will receive a lump sum or pension. The policy gives peace of mind that any financial dependants will be look after once they have gone.
Premiums are usually based upon a multiple of the employee's salary, so the more the employee earns and the higher the multiples you choose; the more that is paid out in the event of a death.
Obtain a no obligation quotation from the Group Life experts, you may well be surpised how little a Group Life policy would cost your business.
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