Death-in-service is an employee benefit which pays out a tax-free lump sum if you are employed by the company at the time of your death. The pay out is usually between two and four times your annual salary.
The tax free cash from the death-in-service, can provide the employee's dependants through times of hardship
Group income protection insurance is an employee benefit that provides a replacement income to an employee should they be unable to work due to illness or injury for a prolonged period. Typically the insurance pays a percentage of the employee’s pre-disability salary, such as 50% or 75%.
Premiums are usually tax free, premiums that are paid by the employer won't be a p11D benefit, so premiums can be offset against corporation tax for the employer!
Group Critical illness cover will pay a tax-free lump sum to an employee if they’re diagnosed with a critical illness, or they undergo an operation as defined under the policy.
This will allow for financial stability if something were to happen to one of your employee's.