Group Life Assurance

Group Life Assurance is an employee benefit that enables employers to provide a tax-free lump sum benefit to an employee’s family and dependants, should they die. The amount paid can be a multiple of salary or a fixed lump sum benefit. As well as encouraging staff loyalty and demonstrating a genuine care for staff welfare, providing group life assurance also goes some way to reassuring employees their efforts in the workplace really count.

Most schemes, depending on membership numbers, offer a free cover limit. Providing the benefits are below this level, cover will be provided without the need for medical underwriting. Premiums paid on an employee’s behalf are not treated as a benefit in kind, so are therefore not subject to income tax and any lump sum payable to dependants is not normally subject to inheritance tax.

Key Person
How would your business manage financially if a Key Person was to die or become ill?
Would your profits be affected?
Does anyone else have the skills to undertake their work?
Will any business loans need repaying?

A life assurance policy taken out on the life of a Key Person within your business will ensure financial security for the business, should the worst happen.

Share Protection
In the event of the death of a Shareholder within your business, will you have the funds to purchase their shares from the deceased’s estate?
A life assurance policy can further provide financial security for both the business and the Shareholder’s family.

Jobson James will undertake an audit of your benefits and produce a report identifying any cost savings that can be made, improvements that could be considered and additions that could be offered. This will ensure your employee benefits package covers the main areas affecting wellbeing:

Preventative benefits

Rehabilitation benefits

Financial wellbeing

Having benefits in all these areas will result in a complete benefits solution, which is of great value to both employer and employees.

To discuss your own requirements, please contact Karen Long on
0121 452 8765 or email karen.long@jobson-james.co.uk.