All One Needs to Know About Group Life in Service!

As known by all group life in service ensures an individual of tax free lump sum or a long term income to their dependents if they die at work. It also ensures an employee about their loyalty and importance of their position in the company. Along with that here is all you need to know about group life in service.

Features of this policy: 

Either lump sum or the percentage of the income, dependent of the employee can be assured of some amount of money. Benefits also reaches the kids of the deceased. All the required provisions have been considered so in case of inflation, the amount provided is calculated accordingly. When you hire a professional to insure yourself with this, they are also known to offer the bereavement support to the family members.

Benefits to employee:

The biggest advantage of having group life in service is to stay assured and stress free. Any monies payed are exempted from inheritance tax helping the family get the best possible amount. This policy is also known to be covering the employee and assists in managing absence in the workplace.

When a trust is formed the money goes to the trustee which can be given to the family members.

There are many laws that will protect employee and the amount they inherit. Consult an expert for managing absence in the workplace and or death at work.