Group Death-in-Service Benefits
How do Eolas Wellbeing help your company when it comes to Group Death-in-Service Benefits? Eolas Wellbeing helps employers to design and put in place Death in Service arrangements for employees. Via our independent financial planning arm, Eolas Money, we source the market to identify and set up the most competitive and suitable plan for you and your employees.
What is Group Death-in-Service Benefits?
Group Death in Service is life assurance provided by a company for its employees (i.e. the premiums are paid by the employer to cover the employees). It provides a lump sum (and, sometimes, a dependent’s pension benefit) on the death of a member of a scheme.
This is a way for an employer of providing financial security to the family of an employee in the event of that employee’s death during service. Having Group Life cover in place means employers can contribute invaluable financial support to beneficiaries. Group Life cover also plays a role in attracting and retaining staff, as it clearly demonstrates a business’s commitment and care to employees.
Contact us to find out more about how Eolas Wellbeing can help your organisation with Group Death-in-Service Benefits