Financial support for your employees' loved ones.
Group life assurance is a valuable employee benefit, which can pay a tax free lump sum or taxable dependents’ pension for the loved ones of an employee who dies whilst covered by the policy.
Benefits for you
- A more competitive and attractive benefits package helps you 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 you choose.
Benefits for your employees
- Peace of mind for them and their loved ones.
- Lump sum and dependents’ 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 want 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. Also, for employees covered by a Legal & General Group Life policy, if they die, their immediate family could receive face-to-face bereavement counselling.
- Consider our Group Life Mastertrust at no extra cost instead of setting up your own registered scheme.
- Specialist cover for equity partners and limited liability partnerships (LLP).
Group life assurance and dependants' pension technical guide (PDF: 385KB)
for more details.