Death In Service

Death In Service

Should an employee die whilst in service with your company, a Group Life Policy will provide a lump sum payment to their beneficiaries.

The Essentials

  • Also known as Group Life Insurance
  • Payable to the employee’s spouse, dependents or other beneficiaries (at trustees’ discretion).
  • Benefits are paid out into trusts to avoid inheritance tax
  • Flexible cover usually around 2, 3 or 4x the employee’s gross annual salary

Why Death in Service Insurance?

  • Flexible cover that can be graded by employee seniority or salary
  • Complement a strong benefits package to support recruitment and retention
  • Enjoy preferential rates for group insurance
  • Include add-ons such as Spouse’s Pension or Bereavement Service
  • Demonstrate commitment to supporting your employees and their families

Who receives the pay-out?

  • The employee’s spouse or partner (as a lifetime income or lump sum)
  • The employee’s children (as income until age 18)
  • Other financial dependents such as elderly relatives (as an income for when the deceased employee has no spouse).

How can I get started?

Vintage Corporate will assist you in the research, setup, delivery and management of all employee benefits packages. Our comprehensive service will:

  • Determine the most fitting length and level of insurance for your team
  • Identify and access the most competitive rates on the market

For more information, contact us today.