Group Life Insurance
A cost effective way of providing immediate financial protection in the event of death in service of an employee. This is the cornerstone of a valuable corporate risk plan. By providing employees with peace of mind as part of their remuneration package, employers in turn promote greater loyalty to the company. Group Life provides payment of benefit to designated beneficiaries in the event of an employee’s death during service.
The benefits can be based on a multiple of salary or a fixed amount, paid in the form of a lump sum. When joining the plan employees are not required to provide any evidence of health in most circumstances. These group plans can be tailored to provide any other group benefit on a voluntary basis which the employee can access at exceptionally lower rates than available on the high street and the cost of which can be deducted via payroll.