Death in Service Scheme

What is Death in Service Scheme designed for?

A Death in Service scheme is designed to pay out a lump sum if an employee or director dies while in the service of your company.

Who takes Death in Service Scheme out?

The company takes it out on behalf of directors and all employees.

“Premiums are very reasonable and fully tax deductible as a business expense.  So the cost is easily borne.”

Why take Death in Service Scheme out?

• It provides the spouses and families of your employees with some financial security in the event of the death of one of your employees.
• Provides excellent value for money and employees are covered 24 hours a day even away from the workplace.
• Attractive as part of an overall employee benefits package.

Benefits of Death in Service Scheme for your company

• It provides your company with the necessary funds to pay a lump sum (typically up to 4 times salary) on the death of an employee to his / her surviving family.
• The scheme is easily put in place most usually with a ‘non-medical limit’ meaning very little if any medical underwriting required.
• The cost of the plan can be written off as a business cost i.e. fully tax deductible from a corporation tax perspective.

Wexford Financial Services Ltd. will advise you of:

• The type of cover you need.
• The length of time you need it for.
• The amount of cover you need.
• The most competitive premium in the marketplace.