Life insurance
What is Life insurance?
Life insurance is an insurance policy that pays out money to an employee's loved ones if they die. The idea is to provide the employee's family financial security and support in the event of the employee's death — it protects them against any loss of income.
At Ben, we've partnered with leading life insurance providers to ensure employees and their families can access the best level of cover & service available.
Why should you offer life insurance?
Benefits to employees:
- When life insurance is taken out as a group policy, the premium is often much lower than an individual policy. This means it's way more affordable for employees.
- Financial security and peace of mind that their loved ones will be taken care of.
Benefits to you:
- make your company a more attractive place to work, and can help you retain your current employees. It shows that you care about their well-being and the security of their families.
- employees will feel secure and valued, which can lead to improved motivation levels and increased job satisfaction.
- This is a tax-friendly benefit — you'll save on NI contributions and can claim corporation tax relief on premiums paid.
Why offer life insurance through Ben?
Ben makes offering life insurance easy. You'll work with a benefits consultant to help you determine if this is the right benefit for you and how it will fit in with your overall package. From there we'll help you find a provider at a preferred price through our global broker network.
Our onboarding team ensures all employees are set up properly, and with ongoing self serve enrolment, as well as automated provider communications. All admin work is taken care of for you, including if you offer various levels of coverage or dependent enrolment.
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