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Group Life Insurance
Offer employees the reassurance that their families will be financially secure should the worst happen.
What Is Group Life Insurance?
Group Life Insurance is an affordable life insurance policy that delivers a lump sum to your employees’ families in the event of their death whilst you employ them. Whether you employ 2 or 10,000 employees, this flexible policy allows you to tailor your coverage to your needs
Key Features
- Spreading the risk across the whole workforce ensures the policy remains affordable for businesses of all sizes, from 2 employees upwards.
- Tailor the policy to the needs of your workforce. Choose the size of the payment, and the level of benefit defined groups of employees will receive.
- A truly generous benefit; coverage for multiples of salary or a fixed amount is available.
- The policy comes with additional support services for employees, such as bereavement counselling and mental health support (dependent on the insurer).
- The lump sum payment is usually tax-free for your staff and in most cases, they will not be asked for medical information.
What Are the Benefits for You?
Retain Top Talent. Demonstrates your commitment to employee financial and emotional wellbeing, enhancing your company’s appeal as an employer of choice.
Boost Employee Morale and Productivity. Providing financial security reduces stress and fosters a positive work environment, leading to higher engagement and productivity in the workplace.
Tax Advantages. Under current UK tax laws, your premiums normally qualify as an allowable business expense, reducing your company’s taxable income.
Cost-Effective Benefit. A Group Life Insurance policy is an affordable way to provide a valuable benefit. Plus, premium rates can be guaranteed for 2 or 3 years, ensuring cost predictability.
Download our factsheet to discover the details of this highly valued employee benefit.
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.
How does Group Life Insurance work?
Why is life insurance a good investment?
What’s different about Bravo Benefits?
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