Get cover in three simple steps

1
Tell us a few details about your business.
2
Provide basic details about your employees.
3
Sit back and let us do the rest…

What is death in service insurance?

As a business, the thought of losing one of your team in the event of their death is almost inconceivable. Death in service – also known as group life insurance- is an insurance policy that financially supports your employee’s loved ones by providing them with a cash lump-sum payment.

Stand out from the crowd

Attract and retain the best people for your business with a meaningful employee benefit.

Show your staff you care

If you value your team, show them! It may be a more affordable benefit than you think.

Easily compare quotes

Save time by effortlessly comparing quotes and policies from a range of insurance providers.

How does death in service insurance work?

  • It’s an affordable insurance policy organised by your company that insures against the death of your employee.
  • It pays a cash lump sum payment to your employee’s loved ones, a multiple of their annual salary or a fixed amount.
  • The death doesn’t have to be the result of work, or even to have taken place at work, but the employee must still have been in your employment.
  • The cash lump sum payment is not normally subject to inheritance tax because this policy is kept in trust by your company.
  • Your company premiums will typically benefit from being treated as an allowable business expense.

This information is based on our current understanding of current tax law legislation and HMRC practice.

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How does Protect My People work?

Enter company details once for guaranteed death in service insurance quotes.

Comparison designed specifically for small to medium businesses.

Easy quotes comparison when your scheme rate ends after the initial guaranteed period.

We’ve been providing individual life comparison since 2001, helping 100,000s of people to find cover. Protect My People is designed to save you time and money to help you find the most cost-effective policy.

How does a group life registered scheme work?

  • Protect My People only quote for registered group life schemes.
  • A registered scheme is not suitable for any member with Enhanced, fixed or individual protection as they could lose their benefit unlike an excepted group life scheme. See our FAQs.
  • Lump sum benefits will count towards a member’s lifetime allowance. See our FAQs.
  • Registered with Her Majesty’s Revenue & Customers (HMRC) these schemes are treated like an occupational pension scheme.

How much could it cost?

Get an indication of how much it could cost by using our calculator below.


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Why compare quotes for death in service insurance?

Designed to save you time

Setting up this kind of staff benefit can be time consuming. Researching different products and speaking to individual insurance companies to get quotes takes up precious working hours. Protect My People lets you compare policies from leading death in service providers without the need to contact each one individually.

We provide you with all the key features, policy benefits and prices from the providers. Most providers will come back with quotes within two working days, so you can decide which policy is right for you and get your employees on cover in a matter of days.

When your policy’s guaranteed rate is up for revision, you can easily return to Protect My People, update the details about your business and employees and in most cases, we will return new quotes to you within two working days. If a provider can't return a quote to you that quickly, we will send them on as soon as we receive the remainder.


Suitable for most small to medium businesses

Some providers on our panel will quote for employers with as few as 2 employees, making this accessible to small businesses. As a business owner, you may be surprised at the relatively lower cost of a group life policy per person compared to the cost of individual life insurance policies.

Effortlessly compare different policies

We will normally provide you with access to a range of different policies to choose from. Some policies will have a number of additional benefits you may want to include in the group life scheme for your employees, such as bereavement support or probate services. You will be able to compare the key features and benefits of each policy and pick one which best suits your business.


Easy quotes comparison when your scheme’s guaranteed rate is due for revision

As with all business costs, we understand how important it is to keep your death in service scheme under review, and ensure you continue to get the best value for money. When it comes to the end of your scheme’s two-year guaranteed rate, we make it as easy as possible.

Simply come back to Protect My People just prior to your scheme's two-year anniversary, update the information you originally provided about your business and employees, and we will return new quotes to you within two working days. Please note, some providers may not be able to return them this quickly. In these cases, we will send them to you as soon as we receive them and will provide a final quote summary within 11 working days.

You can then decide whether your current insurance company is still providing you with a policy that meets your business's needs, whether to remain with your existing provider or switch to another, bearing in mind any staff illnesses or absences from work. Should you arrange this through Protect My People, this is all managed quickly and hassle free.

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Take a look at our video...