Your staff are the most valuable part of your business. Providing your employees with the peace of mind in knowing that if they die whilst in service, their loved ones will be cared for is an effective way of showing your commitment and appreciation to them. As a benefit which does not form part of any employee’s estate, Death in Service helps families reduce their Inheritance Tax liabilities at a time when they most need support.
From an employer’s point of view, Group Life Assurance can be a tax effective benefit with premiums often allowable against Corporation Tax. Our business insurance advisers can explain Group Life Assurance in more detail.