Group Life Information

Definition

My Insurance Hub is a death in service insurance comparison service. We will help you to compare quotes and find cover to protect your team.

How does death in service work?

• It’s an affordable insurance policy that insures against the death of your employee.
• It pays a cash lump sum payment to the employee’s loved ones, usually a multiple of their annual salary.
• The plan will cover the employees death no matter how or where they pass away.
• As the plan is kept in trust by the company the benefits are not normally subject to inheritance tax
• Company premiums will typically benefit from being treated as an allowable business expense.