Group Life Insurance
Group life assurance deals with circumstances that we would all prefer not to think about: the loss of life. It enables you to provide a tax-free lump sum benefit payment, and/or a longer term income to an employee’s family and dependants if the employee should die in service. It’s a difficult time, highly charged with emotion and unexpected considerations for everyone involved.
With group life cover in place, we can offer practical and efficient guidance to you, as well as financial support to your employees’ loved ones. We can also help employees that have suffered bereavement themselves, at a time when they need it most.
As well as encouraging staff loyalty and demonstrating a genuine care for staff welfare, provision of group life assurance also goes some way to reassuring employees that their efforts in the workplace really count.
Group Life Assurance offers a multiple of salary or a fixed amount as a lump sum benefit upon the death of a member.
A death in service pension offers a long term income to the employee’s dependant(s), which can be based upon a percentage of either the employee’s salary, or prospective pension. In addition to a spouse’s pension, benefits may be provided for surviving children or orphans if the surviving spouse also dies.
Benefits can also be protected against inflation by including an escalation option. This means that any pension payable will increase over time at an agreed rate.
- Financial peace of mind for your employees, safe in the knowledge that their loved ones will be financially secure in the event of their death.
- Cost-effective group schemes
- A multiple of salary or a fixed amount as a lump sum benefit to an employee’s family and dependants should they die in service
- Bereavement counselling and probate helpline
- Generous free cover limits – reducing the need for lengthy medical evidence
- Implementation of the plan enhances employee relations
For registered occupational pension schemes, premiums are usually allowable as a business expense and enjoy corporation tax relief, thus reducing the real cost.
- We will quickly establish a holistic understanding of your current and future financial aims, your business and its culture
- We will offer impartial advice on your pension and investment strategy, to outline our intentions and abilities and to allow you the time to take on board all considerations
- We will work only with trusted providers and partners
- We will communicate with regular feedback and information on performance