Company group life cover

gil13

Good Morning, I was wondering if anyone could clarify something for me.
Is group life cover provided by a company to individuals considered to be a benefit in Kind or not. As far as I know it seems a bit of a grey area and there may have been some legislative changes in this area recently. I know last year our company in the end did not provide it as it was thought to be considered a BIK, in the end they decided to give individuals a bit more salary to provide their own. However I now know of somebody who has just been offered group life cover and they say it is not considered and benefit in kind. Any ideas?

chickalittle

hi Gil13 - I set up a group life scheme not so long ago for the company I work for and certainly didn't come across anything to suggest that a group life scheme was treated as a BIK. Health/dental insurance yes, but not group life cover. Hope that helps