Efficient

Premiums are usually allowable as a business expense and enjoy Corporation Tax Relief. Currently there is no Insurance Premium Tax charged.*

Staff Retention

Group Life Assurance is a benefit that carries a high perceived value amongst staff, allowing them to know should the worst happens, their family and dependents will be looked after.

Low Cost

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.

Free Cover Levels

Most schemes provide generous free cover levels that helps with ease of scheme setup and also a generous offering to your staff.

  • Employer Provided Benefit
  • Premiums are an allowable business expense and are usually Corporation Tax Deductible*
  • Not treated as a benefit in kind so no p11d value for the employee*
  • Perceived as an enhanced staff benefit
  • Lump sum payable on death
  • Minimum of 3 employees applies

What Is Group Life Assurance / Death In Service?

Group Life Assurance otherwise known as Death In Service is a benefit that enables employers to provide a lump sum benefit payment, or sometimes a long term income, to an employee’s family or dependents if they should die whilst employed.

You are able to select a multiple of salary or a fixed amount as a lump sum benefit.

*please obtain your own tax advice from a professional specific to your own circumstances before making any decisions

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