Group Life Insurance
Financial support for your employees in their time of need
Group Life Insurance, commonly known as Death in Service, is a valuable benefit you can offer your employees.
Typically, Group Life Insurance is linked to the employee’s earnings (e.g., 4x their annual salary) and is paid out as a lump sum to chosen beneficiaries in the unfortunate event of the employee’s death while employed by your organisation.
Employee benefits
- Peace of mind, knowing their loved ones will receive financial support
- Beneficiaries receive a tax-free lump sum payment
- Cost-effective to provide
- An expected and highly valued benefit by employees
- Usually requires no medical underwriting
- A valuable tool for staff retention
Employer benefits
Go back to the MAC Financial Employee Benefits page
Speak to us about your Group Life Insurance Needs