Death In Service
Death in service benefit is one of the most popular and cost effective employee benefits a firm can provide and one which employees value immensely. It provides a lump sum benefit in the event of death whilst employed by the company.
JB Wealth Management Ltd, research and implement the most appropriate death in service schemes for employers. The level of benefit is decided by the employer, usually a multiple of annual salary (normally up to a maximum of four times salary).
Often the lump sum benefit is the main accessible fund (liquid asset) when someone dies and it provides significant security at a time of upheaval. It is paid free of tax to a beneficiary chosen by the employee.
If you need expert advice on employee benefits including death in service benefit contact us.