Group Life Assurance
Group life insurance is one of the many employee benefits available for employers to offer their staff. Other benefits include pension schemes, group income protection schemes providing a replacement income if an employee is off work long term and group medical insurance plans.
Life insurance is a valuable benefit to offer to your employees. Providing their dependents with a tax fee lump sum in the event of your employee’s death can play a major role in helping you to retain good quality staff. Death in service cover through a group life insurance scheme can also help you to attract high calibre people for your organisation.
Being a member of your company’s group life insurance scheme will provide 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.
The administrative savings offered on a group basis also make group life insurance an attractive proposition. The schemes are often far more cost effective than offering individual life insurance policies to employees.
An added benefit offered by many insurers is bereavement support at no extra charge, in an attempt to provide additional support at a difficult time.
