Group Death in Service (DIS)

What is Group DIS?

A DIS  scheme allows employers to provide a tax free lump sum benefit and/or a dependant’s pension to an employee’s family and children, if they should die whilst employed.

Product Features

DIS schemes can offer, in the event of an employee’s death whilst employed  a multiple of salary (i.e. 2. 3 or 4 x salary) and/or a fixed amount as a lump sum benefit to the employee’s family and dependants.

A death in service pension can offer a regular income to an employee’s dependants with this being based upon a percentage of an employee’s salary or, in some circumstances, their prospective pension.   It is also possible to include benefits for surviving children which can either be in addition to the spouse’s pension or payable should the spouse also die.  

Benefits for employers who use these schemes:

Benefits for Employees

The above information regarding taxation is based upon our understanding of current legislation which, of course, is liable to change in the future and would depend upon an individual’s financial circumstances.

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