What can this policy cover?
Please note: This information relates to policies quoted after 28 September 2015.
If one of your employees dies while in service and they are covered by a Group Life policy, we can offer financial support to their loved ones as well as practical bereavement support at a time when they need it the most. Group Life cover pays out a lump sum and/or a pension benefit to an employee’s partner and/or their dependants in the event of their death. Our Group Life cover can also be helpful for employees who suffer bereavement themselves
Making a claim
- We'll make sure we pay claims as quickly as possible. There's great reassurance in knowing that a policy can provide financial support quickly. Our expertise, online claims process and efficient payment system makes sure lump sum payments are made as quickly as possible, whether it's a fixed sum, or a multiple of the employee's salary.
- We'll provide essential support through our bereavement helpline.Employees, dependants, families and colleagues can receive emotional support from trained bereavement counsellors and practical advice is available for issues such as coping with funeral arrangements and arranging probate.
Benefits can be tax-efficient, which may not be an immediate concern for your employees, but it could be comforting to know that policies arranged under trust will provide funds outside the deceased's estate for inheritance tax purposes. For you, the employer, there's also a benefit to arranging Group Life cover; premiums are usually treated as a business expense under current tax laws.
HM Revenue and Customs practice and tax rules may change in the future and depend on the Company’s and Individual‘s circumstances.
This is a summary of the benefits available. The policy has no surrender value at any time. Full details of cover options and exclusions are available on request. Applications are required.
We'll help you, to help your employees
It's important to tell your employees about the added value you're giving them. Group Life cover can be a useful benefit to attract and retain employees. We'll help you explain the features and benefits of Group Life cover, and the peace of mind it can bring to your employees and their families.