Group life assurance
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.
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 as part of our Worklife Solutions toolkit. 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).
Read our Group life assurance and dependants' pension technical guide for more details about what we can cover and how we assess claims.