GRiD urges employers to offer group life assurance as excess deaths rise

Data published by the Office of National Statistics (ONS) revealed that 17,381 deaths were registered in England and Wales in the week ending 13 January 2023, 19.5% above the five-year average. GRiD stated it wants more employers to consider offering group life assurance to employees to ensure that in the event of the death of a member of staff, a financial safety net for families and dependants can be offered. Death in service is a payment made by an employer to the family of a deceased employee. It is usually paid as a tax-free lump sum and is generally calculated as a multiple of t...