National Grid Wireless is to bolster its flexible benefits scheme by incorporating life assurance from December.
The perk was previously a standalone core benefit and provided staff with cover of four times their salary for dependants, should they die while employed at the company. Now, through the flexible benefits scheme, staff can flex up the level of cover to a maximum of six-times salary or flex it down to a minimum of two-times salary. If they opt to reduce the level of cover, employees will receive an additional cash sum to spend through the flexible benefits scheme.
Bruce Sayers, reward and policy manager at National Grid Wireless, said: “This is the first time we have offered life assurance [through flex] although we have been looking to do it for a while. We wanted to make sure we offered employees benefits that are appropriate to their needs.”
The perk will be communicated to office-based staff via a live presentation, which will then also be made available as a webcast. Existing flex options include annual holiday trading and private medical insurance.