Group life insurance is a popular employee benefit; commonly arranged to provide a lump sum payment to an employee’s family should they die while employed by the company. Also, for businesses thinking about expanding their employee benefits package, it is the perfect complement to a workplace pension, often the first building block.
Some of the most compelling reasons why employers should consider providing this benefit to their staff are the following:
- Attract the best talent
- Employee peace of mind
- It is the right thing to do
Some more reasons to consider group life insurance:
- It is cheap.
- It is a natural complement to pension saving, and the ideal starter employee benefit.
- Employees do not need to answer any medical questions.
- It is tax efficient.
- It is simple to administer.
Contact us for a detailed needs analysis with one of our experts on the subject of Group Life Insurance.