Life assurance
We offer Life Assurance — at no cost — to protect you and your family.
-
How it works
Iron Mountain provides all employees between the ages of 16 and 75 with life assurance, otherwise known as “Death in Service.” Life assurance, provided by AVIVA, offers financial protection to your nominated beneficiaries in the event of your death, in the form of a lump-sum payment.
-
Cover details
Employee Cover
You automatically receive a minimum of four times your annual salary,* but you may increase this amount to up to six times your salary up to a cover of £2,000,000 (subject to the insurer’s rules) at your own expense if you’d like added protection for your family.
You’ll be placed in the Registered Scheme if your earnings are below £120,000 per year and in the Excepted Scheme if your earnings are above £120,000 per year. However, you have the option to elect cover on a Registered or Excepted basis at annual enrolment. Benefits payable under the Registered Scheme are tested against the Lump Sum Death Benefit Allowance (LSDBA, effective from 6 April 2024), which could potentially incur significant tax charges in the event that your total lump sum registered benefits exceed £1,073,100 (applicable for the 2025/26 tax year). Benefits payable under the Excepted Scheme will not be subject to the LSDBA, however, the tax regime governing this type of arrangement means that the benefits may be subject to periodic charges and exit charges instead.
This benefit is subject to the terms of the insurance provider. Iron Mountain is not obliged to cover employees if the insurance provider does not accept their claim (for whatever reason).
*Separate arrangements may apply if stated in your employment contract.
Spouse or Partner Cover
For greater peace of mind, you can also purchase life assurance for your spouse or partner. Learn more about this option.
Important Information About Taxes
Iron Mountain can’t provide tax or legal advice on these matters, so it’s recommended you seek independent financial advice. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice.
-
Designate a beneficiary
It’s important to designate one or more beneficiaries for your life assurance benefit. To designate a beneficiary, visit MyMap and complete an Expression of Wishes form.
Once completed, please return to Global HR Service Support:
-
Costs
Here’s what you pay per month for £1,000 cover based on your age.
Age Next Birthday at Entry/Renewal Monthly Rate Per £1,000 Age Next Birthday at Entry/Renewal Monthly Rate Per £1,000 Age Next Birthday at Entry/Renewal Monthly Rate Per £1,000 17 £0.010 37 £0.05 57 £0.20 18 £0.011 38 £0.05 58 £0.22 19 £0.012 39 £0.05 59 £0.24 20 £0.013 40 £0.06 60 £0.25 21 £0.014 41 £0.06 61 £0.27 22 £0.015 42 £0.07 62 £0.29 23 £0.016 43 £0.07 63 £0.32 24 £0.018 44 £0.08 64 £0.34 25 £0.018 45 £0.08 65 £0.37 26 £0.020 47 £0.09 66 £0.40 27 £0.022 37 £0.10 67 £0.43 28 £0.023 48 £0.10 68 £0.46 29 £0.025 49 £0.11 69 £0.50 30 £0.028 50 £0.12 70 £0.53 31 £0.029 51 £0.13 71 £0.58 32 £0.032 52 £0.14 72 £0.62 33 £0.034 53 £0.15 73 £0.67 34 £0.037 54 £0.16 74 £0.72 35 £0.039 55 £0.18 75 £0.78 36 £0.043 56 £0.19