Group Life

What can this policy cover?

The last thing anyone wants is to receive a benefit from Group Life cover. But if one of your employees dies while in service, Group Life cover helps you provide valuable financial and practical support to his or her loved ones. The policy offers a lump sum on death in service to the employee’s dependants – but we’ll also be on hand to support you, and your colleagues, at a difficult time. Our Group Life cover can also be helpful for employees who suffer bereavement themselves.

Making a claim

• We’ll make a speedy payment of claims. There's great reassurance knowing that a policy can provide financial support quickly. Our expertise and efficient payments' system make sure of speedy lump sum payments – whether it’s a fixed sum, or a multiple of the employee’s salary. Often the payment from a Group Life policy can usually be sent to dependants before any probate settlements. If you would like more information about probate and Group Life settlements, please speak to your usual financial adviser.
• We’ll provide essential support. Through our bereavement helpline, employees, dependants, families and colleagues can receive emotional support from trained bereavement counsellors. They can also ask for practical advice on issues such as coping with funeral arrangements and arranging probate.
• Funds can be tax-efficient. It 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.

This is a summary of the benefits available. The policy has no surrender value at any time.

We’ll help you, to help your employees

You’re looking for a policy that can cover 250 or more employees. We understand how important it is to help you tell your staff about the added value you’ll be giving them.

We’ll help you design a communications plan that explains the features and benefits of Group Life cover, and the peace of mind it can bring to your employees and their families. Speak to your usual adviser, or call us on 0845 300 4452 if you’d like to set up a meeting.

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