February 7, 2024
We are now offering life assurance to companies on Kota, with Ireland being our first available market
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We are excited to announce that today, we are now offering life assurance to companies on Kota, with Ireland being our first available market.
Since Kota’s origins, launching life assurance has been a key milestone on our roadmap. Alongside health insurance and retirement benefits, we see it as an essential part of the employee benefits package.
Today, after a huge amount of effort by our product and expansion teams, we are delighted to make life assurance available to companies on Kota.
In Ireland, 95% of companies offer some form of life cover to their teams. This is a high proportion, but it comes as little surprise when the benefits of life assurance offerings are understood.
Having life assurance cover gives peace of mind that in the event of your death, your loved ones will be looked after. Many employers not only see this benefit as a fundamental component of employee well-being but also know that attracting and retaining talent would be challenging without it.
We want to make it easy for companies to access and set up life assurance plans and pass the benefits on to their teams and families.
Activating your life assurance plan with Kota can be done in just a couple of minutes.
Once set up, you are covered so that in the event of your death, a multiple of your salary (usually x2 or x4) is paid tax-free to your estate and given to those per your Will (or to those by statutory inheritance rules).
For employers, offering life assurance can actually be very affordable, and premiums can be offset against company taxes - an incentive by the government to encourage companies to prioritise offering the benefit.
For employees, there is no cost to the benefit, and you don’t attract Benefit in Kind charges, making it entirely employee-friendly.
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I'm the Co-Founder and CEO of Kota – Building the future of employee benefits
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