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Glossary > D > "Death in service" Definition

Death in service

A life insurance policy which often attaches to a company pension scheme. The member is typically covered for three times his/her salary whilst remaining in the employ of the company and should death occur during this period (death in service), his/her dependants would receive the insured sum free of tax.

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Death in service - A life insurance policy which often attaches to a company pension scheme. The member is typically covered for three times his/her salary whilst remaining in the employ of the company and should death occur during this period (death in service), his/her dependants would receive the insured sum free of tax.

Death in service : a life insurance policy which often attaches to a company pension scheme. the member is typically covered for three times his/her salary whilst remaining in the employ of the company and should death occur during this period (death in service), his/her dependants would receive the insured sum free of tax.