How to choose a Death in Service benefits provider

How to choose a Death in Service benefits provider

If you've been struggling to gather the facts when it comes to death in service benefits and the businesses providing the schemes, a new launch - Prot

If you’ve been struggling to gather the facts when it comes to death in service benefits and the businesses providing the schemes, a new launch – ProtectMyPeople, the UK’s first price comparison website for “Death in Service” also known as “Group Life” insurance could be of interest.

Group life insurance is an insurance policy taken out by the employer, giving employees peace of mind if the worst was to happen. It provides a lump sum to the loved ones of an employee if they die whilst they are employed by the business.

 

The ProtectMyPeople service provides quotes from a range of leading life insurance companies. It is designed to save time and money, allowing business owners to easily compare the Group Life insurance options for protecting their workforce.

Mike Preston, Business Development Director of theidol.com, said:

 “ProtectMyPeople is the first online price comparison service in the employee benefits market and we believe it will make obtaining group life insurance more accessible and efficient for small and medium business owners. We are working with business owners who may have never previously thought about the advantages of providing group life insurance for their employees, or felt it too complicated or too expensive to offer. ProtectMyPeople makes it easy for business owners and HR teams to compare and buy group life cover to help protect the families and loved ones of their staff if the worst should happen.”

 

Group Life insurance is often significantly cheaper than individual cover purchased by employees separately, and can be used as an attractive benefit by businesses to recruit and retain staff.

 

Mike Preston continued:

“We know that business insurance needs to be simple, easy to understand and buy, and be cost-effective.  ProtectMyPeople is simple to use and only requires one form to be filled in alongside the details of employees that the employer wants to be covered. Clearly, death in service is a tragic occurrence, and one which no employer wants to happen, however the sad fact is that it can and does occur. Whilst tragic in any business, within a small or medium sized business the impact is felt much wider as typically the lines between work and home life are blurred where colleagues and families of colleagues are much wider known. Group Life cover goes a small way to offsetting the impact for the families and loved ones of those affected.”

Clearly, death in service is a tragic occurrence, and one which no employer wants to happen, however the sad fact is that it can and does occur. Whilst tragic in any business, within a small or medium sized business the impact is felt much wider as typically the lines between work and home life are blurred where colleagues and families of colleagues are much wider known. Group Life cover goes a small way to offsetting the impact for the families and loved ones of those affected

 

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