Life Assurance provides financial protection for you and your family. It’s available for employees ages 16 to 64, and is provided by Adobe at no cost to you.
Coverage is 4 times your base salary, up to a maximum £1.5 million. It will be paid out to your beneficiaries if you die. They’ll also receive an annual pension equal to 20% of the annual salary you were earning when you passed. They’ll receive this pension for the rest of their life, unless the beneficiary is a child. In that case, the pension will end at age 18, or age 23 if the child is in school.
Review the Group Life Insurance [PDF] overview for more information.
- The annual pension counts toward the £1.5 million maximum. Employees with significant salaries may want to talk to a financial planner for advice on setting up their benefits in a tax-efficient way.
- Don’t forget! Always keep your beneficiaries up to date. You can do this via My Adobe Benefits.