Death-In Service Benefit (Life Assurance)

  • All permanent employees are insured for a lump sum payment on death, subject to the Irish Life Assurance plc underwriting guidelines.
  • The plan provides a benefit of four times your gross basic annual salary if you die while an employee of the company. This benefit would be paid to your dependents or estate at the discretion of the trustees of the plan.
  • Cover is for death by any cause and all or part of the benefit may be granted without any medical evidence. The insurers may reserve the right to request evidence of insurability and the cover may be dependent on the outcome of any such underwriting. You will be notified if this applies to you.
  • To assist the trustees of the plan and the company in deciding to whom the benefit should be paid in the event of your death it is important that you complete and return the Nomination of Beneficiary Form, which will be held with your personnel records.
  • Segment meets the full cost of this cover and premiums paid by the employer are not treated as a benefit-in-kind tax liability to the employee.

For any questions in relation to the Life Assurance Policy please contact our local advisors Glennon Employee Benefits.
\ +353 (0) 1-7075880.