Group Life Insurance, often referred to as “Death in Service” benefit, provides a tax-free lump sum payment to an employee’s family or dependents should they pass away while employed by your company. By placing the policy under a Master Trust, the benefit is usually paid out quickly and remains outside of the employee’s estate, meaning it is typically exempt from Inheritance Tax.

The policy offers significant flexibility, allowing you to cover your entire workforce or specific groups until the age of 75. You determine the level of cover, typically between three and eight times the employee’s salary and provide annual member data to ensure premiums remain accurate. When a claim occurs, the benefit is paid to independent Trustees who conduct an investigation to ensure the funds reach the correct beneficiaries, providing a professional and compassionate layer of support during a difficult time.