Partner life assurance
Security for you if left behind
How will you cope financially if your partner dies? Does their employer offer life assurance? If not, or if they are not working, think about buying partner life assurance. This benefit pays out a tax-free lump sum in the event of your partner’s death. The level of cover you can choose starts at £25,000. You can increase the cover in multiples of £25,000 until you reach the maximum level of cover of £250,000.
At a glance
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Employee funded
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Limited time benefit
Tax savings
The money you pay for some benefits (such as your pension) is taken from your salary before tax and National Insurance are deducted. This means you don’t pay any tax on the money you use to fund these benefits. For some other benefits (such as tax-free saving for childcare) the tax is added back on to your contribution when the benefit is provided.
Employee funded (EE)
A benefit which you choose to join at an additional cost to you.
Employer funded (EF)
A benefit that is funded by the Company, at no cost to you.
Limited time benefit
You can only sign up to limited time benefits during March, or within three weeks of joining SAP.
Flexible benefit
You can sign up for flexible benefits at any point during the year. Be aware that you can’t always make changes to these benefits at any time during the year, so check on the conditions when you sign up.
