Company Bug and Drewberry have a partnership to help Company Bug members set up Death in Service Insurance for their employees.
Drewberry has helped hundreds of companies across the country with Group Life Insurance.
We advise on everything from the best policy for your employees, the tax position of premiums and benefits, the appropriate trust for your company to use and more.
Death in Service Insurance offers employees and their families Life Insurance if a worker dies while under contract at your organisation.
The death doesn’t have to be at work or in the workplace to secure a payout.
It provides a lump sum on an employee’s death, usually a multiple of their earnings (typically 2-4 times salary).
Group Life Insurance is the fourth-most popular benefit according to a survey of SME employees.
Only a third of UK adults say they have any form of Life Insurance. Cost was a notable barrier to uptake.
Having an employer pay premiums could therefore be a weight off workers’ minds.
Introducing Death in Service Cover can increase staff morale and result in higher employee engagement, with an associated boost in workplace productivity.
On top of a payout on death, Group Life Insurance often offers a number of everyday benefits, such as:
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