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Group Life Insurance

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Business Protection That Puts Your People First

Group Life Insurance — also known as Death in Service Benefit — is a vital part of a well-rounded business protection strategy. It provides a tax-free lump sum to an employee’s beneficiaries if they pass away while employed by your business, offering invaluable peace of mind for their loved ones and reinforcing your company’s commitment to staff welfare.

At Park Hill Financial, we help businesses of all sizes implement Group Life schemes that are affordable, compliant, and highly appreciated by employees.

What Is Group Life Insurance?

Group Life Insurance is an employer-funded life cover policy that pays out a multiple of the employee’s annual salary (typically 2x to 6x) to their nominated beneficiaries if they die while employed by your company. It’s a simple, cost-effective way to protect your workforce and offer meaningful support during times of loss.

This benefit is often structured under a discretionary trust, meaning payouts can be made quickly, free from inheritance tax and probate delays.

Who Is It For?

Group Life Cover isn’t just an employee benefit — it’s a key component of your business continuity and risk management plan. By providing financial protection to your team, you:

  • Strengthen staff retention and loyalty
  • Demonstrate a clear commitment to employee wellbeing
  • Align with corporate responsibility goals
  • Reduce workplace stress around personal financial planning
  • Safeguard your reputation as a caring and responsible employer

Key Features

  • Tax-free lump sum payout (typically 2–6x salary)
  • Employer-funded with no cost to employees
  • No medical underwriting required for most employees
  • Corporation tax deductible for the business
  • Quick payout through a trust structure
  • Flexible scheme design for SMEs and larger organisations

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Why Choose Park Hill Financial?

We make setting up Group Life Insurance simple, efficient, and fully compliant:

  • Independent advice — we work with all major UK insurers
  • Assistance with trust setup and scheme registration
  • Tailored plans to fit your company’s size, structure, and budget
  • Clear communication materials for your employees
  • Annual reviews to ensure your policy evolves with your business
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