Financial support for employees' loved ones.
Group life assurance is a valuable employee benefit, which can pay a tax free lump sum or taxable dependants' pension for the loved ones of an employee who dies whilst covered by the policy.
Benefits for employers
- A more competitive and attractive benefits package helps your client recruit and keep the right staff.
- Premiums will normally qualify for tax relief depending on scheme choices, including Excepted Group Life policies, also known as relevant life policies.
- Usually costs less than 1% of payroll depending on the level of cover.
Benefits for employees
- Peace of mind for them and their loved ones.
- Lump sum and dependants' pension benefits can be paid without waiting for probate and free of inheritance tax.
- This valuable cover is not classed as a benefit in kind.
Why choose us?
- Available to employers who wants to cover 10 or more employees.
- Easy to set up and straightforward administration with support from a dedicated team.
- Most employees covered without medical information.
- Simple and fast claim payments, usually within five working days of us accepting a claim.
- Comprehensive employee assistance programme available free for employees of our Group Life Assurance and Dependants' Pension customers, including their employees we aren't covering.
- For insured employees that die whilst covered by the policy, their immediate family can receive free face-to-face bereavement counselling. Find out more about Worklife Solutions.
- Consider our Group Life Mastertrust at no extra cost instead of your client setting up their own registered scheme.
- Specimen trusts and deeds to help your client set up and manage their own scheme.
- Specialist cover for equity partners and limited liability partnerships (LLP).
Get a quote and read our
technical guide (PDF: 385KB)
for more details.