Life Assurance.
Extending support to your employee’s loved ones.
Group Life Assurance Cover is another great way to grant your employees more peace of mind and security not just for themselves but for their loved ones. The reason for this is because it provides a lump sum to beneficiaries on the often unexpected or sudden death of an employee or scheme member.
While you pay the premiums to cover your employees as part of your company’s pension plan, Group Life Cover is a very cost effective way of protecting them.
5 Reasons Why you should set up group Life Assurance cover for you employees?
You can write off the full cost of providing the benefits against corporation tax.
It is a very attractive benefit for current and future employees assisting retention and recruitment.
The underwriting requirements for group life cover are significantly less stringent than for individual life assurance cover. A non-medical limit is set against the size of the group and levels of cover. Any member whose benefits are below this limit does not need to be medically underwritten, so no further medical assessment is required.
As per economies of scale, the cost associated with group cover is much lower than the equivalent individual life assurance cover.
Administration of a group scheme is much more straightforward for you than purchasing equivalent life assurance cover policies for each individual employee.
Group Life Assurance advantages.
Join Fionán as he highlights the value of a group life assurance scheme in Ireland—a cost-effective and significant benefit for employees and businesses alike.
Start your employees' serious illness cover journey.
If you would like to learn more about how Trust Matters can work with you to plan your employees' serious illness cover, contact us today.
