Freephone  0800 988 0085
Email  service@health-matters.co.uk

Group Life Cover


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 benefits dependant on the employee's salary.

The benefit is worked out by salary multiples. The amount is decided by the individual company needs.

 

Benefits for Employees

  • Peace of Mind: Assurance that your financial dependants will be looked after in the event of your death.
  • Company Paid Premiums: Not liable for benefit in kind taxation.
  •  Tax Free Benefits: The lump sum benefit is not liable to income tax however pension benefits will be subject to tax.
  • Free Cover Limit:  The employee will be guaranteed a minimum benefit regardless of their medical history.

  

Benefits for Employers

  • Improved Staff Welfare: Demonstrates the company's concern with the wellbeing of its employees.
  • Allowable Business Expense: Premiums can be offset against corporation tax with no other additional tax to pay.
  • Flexible Plans: Different salary multiples can be used for the different staff categories included on the scheme.
  • Staff Retention and Recruitment: In an ever more competitive employment market, this is an attractive cost effect benefit to offer employees.
 
What Next ...
  • Freephone Health Matters (UK) on 0800 988 0085
  • We will discuss the best options for you and make recommendations

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