Group Life enables employers to provide life insurance for its employee's. 

The cover will provide a lump sum payment to an employee's spouse of financial dependent in the event of their death before their normal retirement age.  Other options such as dependent's benefits may be added.  Benefits are often based on either, a multiple of the employee's salary (usually up to 4x) or a lump sum that has been agreed. 

The benefits of this type of cover are that the premiums are very competitive.  Registered schemes through the HM Revenue and Customs premiums are generally classed as a business expense and therefore usually entitled to tax relief.  Generous free cover levels are given allowing for often minimal or no medical underwriting and easy administration of the policy with just an annual renewal date.

The usual minimum requirement to set up a group life policy is 5 employee's.

By providing this type of benefit you are offering employee's peace of mind for their loved ones in the event of their death, whilst in your employment.

If you would like further information then please contact us on 01858 434422.