Employee Benefits for you and your staff: Death in service and Income Protection
A death in service or income protection scheme is classed as employee benefits, payable by the business for the benefit of you and your employees. This can also be used for Directors of a firm and offers a level of cover free of medical underwriting dependant on provider.
Tax deductible for the business and no P11D benefit payable for staff on a death in service. A minimal P11D benefit charge is applicable to a Group Critical Illness policy for members of staff that wish to be included in the scheme.
For peace of mind and to ensure loved ones are looked after should the worst happen. In the event of the death of an employee, our Group Life Insurance policies will provide their dependants with a tax-free lump sum after they have completed a letter of wishes nomination form.
Should any of your employees be diagnosed with any of the listed, specified conditions covered by the policy, you can rest safe in the knowledge that you and your employee will be covered by a lump sum payment which can be a multiple of their salary.
You’re there to look out for your employees and we’re here to look out for you. If one of your employees is unable to work due to illness or injury, you can be covered for up to 80% of their salary. This can also be incorporated into a comprehensive benefits package, which in turn will assist you to manage absence whilst also providing financial support for your employees and their families.
A Group insurance scheme can be held in a master trust which offers employers the benefit of a governance function with lower operating costs than a single employer scheme.
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Revilo House
Bridgefold Road
Rochdale
OL11 5BX
