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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