Facing up to mortality is not easy, but at least you can look after those left behind. As part of your basic employment package, SAP offers a payment of 4x your annual basic salary at the time of your death. This is paid free of tax to your dependants.
If you want to provide more for your family you can, but you pay for the extra level of cover. The maximum level you can have is 8x your basic annual salary. You also have the option to reduce cover if you feel this is not needed by you.
In your first election period, you can increase your cover up to a maximum of 8x your annual basic salary, or reduce to a minimum of 1x your basic salary. In the following years, you can decrease your cover or increase it by one multiple at a time until you reach the maximum of 8x your annual basic salary.
At a glance
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.