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Death in Service


Are you the owner of your own business? Click here to learn how to save tax and put your life cover on expenses.

Death in Service schemes are the norm in the public sector but are becoming much more commonplace in the private sector.

Death in Service pays out a tax-free lump sum benefit to the family of an individual who dies whilst employed by your business.  The lump sum is a multiple of salary, typically 4 times, but can be a lot more.  There is usually little or no medical underwriting required, as the scheme is written on a `Group` basis.

To learn more about how a DIS scheme could benefit you and your business, call us now on 0116 253 5600.

Such schemes are normally arranged in conjunction with a Company Pension Scheme, but can be standalone.  Most insurance companies have a minimum requirement of 15 employees.

There is a form of tax-efficient Life Insurance available to business owners and their employees, called Relevant Life.  Relevant Life can be over 50%* cheaper than traditional life cover.  It can also be used as an alternative to Death In Service for smaller companies or to provide much higher levels of cover compared to Death In Service.  

To learn more about how we can save you money and get the taxman to work for you, please call us on 0116 253 5600 or complete the enquiry form.

* Savings take account of tax benefits as calculated by Legal & General based on a 40% taxpayer who is a director of his own limited company and assumes the premiums qualify as an allowable business expense. Tax law and practices can change in the future.