What is the average pay-out for death in service?
That depends. The amount paid out in the event of a death in service depends entirely on the terms and conditions set out by your employer. Often, you can expect a pay out to be around 3 to 5 times your annual salary.
Do note that if your employer offers a flexible benefits package, you may be able to increase the death in service pay-out by taking a reduction in salary. You could reduce or even remove other benefits to see a higher pay-out from this benefit.