Continuation Option on Death in Service benefit

pippa66

If one is a member of a company that has 4x salary as a death in service and they hand their notice to potentially go to a competitior and are on gardening leave for say 3 months. Is it possible to continue the life cover that they had on a personal basis without having to provide additional medical evidence ? If so which companies would offer this ?

MikeJones_2

I suspect you would continue to be covered under the employer's Death In Service policy until such a time as your employment had actually ceased, whether or not you continued to attend work or were on 'gardening leave'.

The HR department or scheme administartors should know for certain - and it would be wise to seek confirmation under such circumstances.

Mike

pippa66

There will be a break in employment before the new job is started so my question is there any company that provides a continuation option without medical evidence ?

Debt_Free_Chick

pippa66 wrote: »

There will be a break in employment before the new job is started so my question is there any company that provides a continuation option without medical evidence ?

This used to be a common feature. The option is provided by the current insurer i.e. the one providing the death in service cover attached to your current job.

You usually get 30 days after employment ends to exercise the option. You need to ask your HR department or whoever it is that manages the current DIS scheme.

Many companies no longer offer this as it was very rarely taken up. It's really only a benefit if you're in poor health or likely to be health rated. If you're in good health, you often get a better deal by shopping around and, depending on age, no requirement to submit additional medical evidence, other than the questions asked on the proposal form.

pippa66

The staff member is in poor health and the HR department would know that already but they dont seem to offer any. T

Is there any IFA aware of a policy available within the market ?

Debt_Free_Chick

pippa66 wrote: »

The staff member is in poor health and the HR department would know that already but they dont seem to offer any. T

Is there any IFA aware of a policy available within the market ?

It's not an option attached to "a policy available within the market". It's an optional benefit offered by the current employer. If the current employer doesn't offer it, then you can't get it elsewhere. Sorry