Group life assurance is the most common employer sponsored protection benefit in the UK and often represents the sole life insurance provision for low to middle income earners, with the marketing already insuring over 8.8 million people for death benefits, valued at over a trillion pounds (Swiss Re Group Watch 2016)

Group life assurance provides a benefit on an employee’s death in service. This can be a lump sum payable to nominated beneficiaries or a taxable pension payable to the employee’s dependants, or both.

Most group life assurance policies operate within HMRC’s regulatory framework for a ‘registered occupational pension scheme’. Lump sum death benefits can normally be paid tax free up to the Lifetime Allowance.

Generally, premiums paid by an employer can be offset against corporation tax and are not regarded as a benefit in kind.

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Incorporate Benefits LLP

Incorporate Benefits LLP is a joint venture company created by two of Northern Ireland's biggest names in Employee Benefits, Kerr Henderson Group and Independent Healthcare Solutions (NI) Ltd.

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