Q. How do I enter a Death In Service Benefit linked to employment?
A. You can do this by entering it as a Protection Policy, Term and Endowment.
You have the option here to enter as an Employee Benefit, select the employment from the drop down to link to it. Enter the salary multiplier and the software calculates the potential DIS benefit each year in line with the salary increase. You don't have to enter start or end dates as the software will automatically stop the benefit at the designated retirement.
You can also put the policy in trust, so it fall outside the estate. You do this by selecting Policy Held in Trust - Yes. Then selecting the Beneficiaries to be Persons outside of plan, so the assets don't come back into the estate.
