How does Group Life Insurance help?
Everyone worries about money at some point in their lives, and this concern is compounded when one has a family to support. We can all become anxious about what will happen to our family if the worst were to happen and we were to suddenly pass away.
This unease can affect your employees’ performance in the workplace, with worried staff distracted, less creative and less productive overall.
Give your team peace of mind and remove their money worries with a Group Life Insurance policy. Knowing that their loved ones will be cared for if they suddenly pass away will reduce financial anxiety and help them be at their best in the workplace.
What is included in our Group Life Insurance?
Our Group Life Insurance policy covers all employees in your company. This makes it an affordable solution. It reassures your staff that their loved ones will be taken care of financially if they die.
Your employees can choose for their dependents to receive the payout as a lump sum, or as a death-in-service pension. The death benefit can be used to cover funeral costs, pay off debts, or do anything else that the family may need.
faqs
How can we help?
We want you to have the simplest, easiest experience possible when choosing the right employee benefits. But we know you might have a few questions. Read on for more information here. If you still have questions, talk to us.
Why choose Group Life Insurance?
Deliver assurance
Your dependents will be cared for
An affordable solution
Group Risk Insurance is less costly than individual policies
Maintain productivity
Free staff from money worries
How does Group Life Insurance work?
Our team of Employee Benefit Consultants spend time understanding your situation and the makeup of your team. Whether it’s transferring your existing policy or finding a new scheme, we are able to help. After your consultation, we send you a spreadsheet for you to populate with your team’s data.
Our team then tasks itself with finding the best Group Risk Insurance product for you. We are accredited to research and recommend the best insurance product for your circumstances. Our Consultants will then help you to set up your scheme, guiding you through how to complete the application forms and on-risk declarations.
Why is life insurance a good investment?
Life insurance ensures that your employees feel secure that their loved ones will be cared for should they pass away. It is a way of demonstrating that you as an employer cares about the wellbeing of your employees and their dependents.
What is group life cover?
Group life cover is a type of life insurance, also known as death in service benefit, which an employer may offer to their staff. It is set up by the employer to cover employees whilst they are employed by the business. Any premiums paid by the employer are not treated as a benefit in kind. Any lump sum benefit is normally payable outside an employee's estate and free from inheritance tax liability. Group policies are an affordable way for employers to pay for the cover as the risks are averaged out across the workforce being covered.
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