Death in service


 

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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.



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Earnings before interest and income taxes, divided by interest expense plus the quantity of principal repayments divided by one minus the tax rate.


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