Benefits · Comparing offers
Life Insurance
Roles and practices offering death in service cover. What the multiple means, and what to ask about it.
Knowledge
Life insurance, in plain terms.
Life insurance as an employment benefit usually means death in service cover: a tax-efficient lump sum, expressed as a multiple of your salary, paid to your dependants if you die while employed.
It rarely decides a job move, but it is expensive to replace privately and cheap for an employer to provide, so a good multiple is quietly valuable. Ask the number, and whether the scheme also includes a dependants pension.
This hub gathers the roles and practices advertising life insurance as part of their offer.
- It protects your family
Death in service pays a multiple of your salary to your dependants if the worst happens while you are employed.
- Check the multiple
The multiple matters: two times and four times salary are very different promises.
- High value, low profile
It is cheap for employers to provide and expensive to replace yourself, which makes it high value.
Look after the people you love.
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