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Products Updated April 20, 2018

Death in Service Life Cover

Death in service life insurance is a policy that covers you should the worst happen whilst at work. Get expert advice and the best cover from our approved experts.

FREE life insurance advice and comparison. Our experts can help find you a great deal from providers across the whole marketplace:

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All credit types
Rated 4.8/ 5

Lifes Great

Provider
Lifes Great

Products
Life Insurance

Speciality
Compares The Market

Whether you are looking for a cash lump sum payout or decreasing term mortgage life insurance, Lifes Great can provide you with a quote and a recommendation in under a minute. Free to use and you are under no obligation to proceed with any quote given.

Learn More Available via broker only
All credit types
Rated 4.6/ 5

Vitality

Provider
Vitality

Products
Life Insurance

Speciality

If the worst should happen, or you can’t work because of illness or injury, Vitality Life's 5-star Defaqto award-winning range of protection products will give you or your family payments to make things easier.

Available via broker only
All credit types
Rated 4.2/ 5

Zurich

Provider
Zurich Life Insurance

Products
Life Insurance

Speciality
Life Insurance

Zurich Life Insurance will pay out a cash sum if you die during the term of the policy, or if you are diagnosed with a terminal illness and are expected to live for less than 12 months. Plans can be tailored with optional extras to suit your individual requirements and to provide added peace of mind.

Available via broker only
All credit types
Rated 4.6/ 5

Legal & General

Provider
Legal & General

Products
Life Insurance

Speciality
Life Insurance

Life cover or life assurance helps you to financially protect the future of your loved ones. Life Insurance from Legal and General offers reassurance that your loved ones or family will still be looked after financially should the worst happen.

Available via broker only
All credit types
Rated 4.7/ 5

Friends Life

Provider
Friends Life

Products
Life Insurance

Speciality
Life Insurance

Friends Life is now part of the Aviva Group. Get the cover you need to protect your family and loved ones when you're no longer around.

Available via broker only
All credit types
Rated 4.5/ 5

LV

Provider
Liverpool Victoria

Products
Life Insurance

Speciality
Life Insurance

Life insurance from Liverpool Victoria will pay a lump sum should the worst happen, so you will have peace of mind that your family and loved ones will be financially protected when you’re no longer here. Even superheroes need protection.

Available via broker only
All credit types
Rated 4.6/ 5

Ageon

Provider
Ageon Life Insurance

Products
Life Insurance

Speciality
Life Insurance

Ageon is here to help you reach your goals at every stage of your life. Part of that involves putting plans in place to adequately protect and insure you against the unexpected things in life.

Available via broker only
All credit types
Rated 4.5/ 5

Royal London

Provider
Royal London

Products
Life Insurance

Speciality
Life Insurance

With a policy in place with Royal London , you can leave money to your loved ones when you pass away, to help protect your family financially. Get a free quote or apply online.

 

FAQ's

What is Death In Service cover?

Death in service life insurance is a policy that covers you should the worst happen whilst at work. This policy will pay out a tax free lump sum if you die in service and the death does not have to be work related but you must be on the payroll of the company when you die.

The death in service life insurance policies are connected to a company pension scheme so you must be a member of this at the time of your death.

The amount paid out could be the equivalent of two times your annual salary or offer up to four times your annual salary subject to policy agreements. For example if you purchase a policy that will pay four times your annual salary as the death benefit, if you earn £50,000. and you die whilst directly employed by the company, your family members could receive a tax free pay out of £200,000.

How does it work?

If you were to pass away whilst at work, your employer would be responsible for making the claim. A lump sum would be paid to the trustees, they will then make the decision as to whom the money is released too, whilst taking into account your decisions and requests. The payments released are usually released to the surviving spouse, these payments are normally tax free unless you have passed your lifetime allowance.

What are the product features?

There are many features that come with this policy, here are just some;

  • Covered whilst at work
  • Tax free lump sum would be paid out
  • Death benefit amongst other benefit options
  • Optional cover available
  • Company sometimes pay for this cover

What Are The Benefits?

There are many benefits with Death in service life insurance, here are a few;

  • The finances of you and your family are secure
  • The benefit pay out would be a tax free lump sum
  • You would be covered whilst at work
  • Employer usually pays for this cover
  • There is additional cover available
  • Covered for any illnesses or conditions
  • All of these benefits and features of this cover are there to help the policy holder and their families should anything happen. We understand if the worst were to happen or if the policy holder were to become disabled as a result of an accident or an illness that is work related the family as well as the policy holder would need as much help going forward and that is exactly what Death in Service Life Insurance is all about.

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