Group Cover

Protecting your employees

Group life insurance is an employee benefit provided by an employee’s company, which pays out a lump sum to beneficiaries, in the event of their passing.


What are the benefits of group life insurance?

For many employees, this is an attractive benefit offered by a company, as it provides support to families or beneficiaries of an individual should they pass away whilst under that company’s employment.

Group insurance will typically provide an employee with cover for a multiple of their income, usually between 2-4 times their annual salary. As the policy is also set up within a Trust, the beneficiary will not be liable for paying inheritance tax on the lump sum received.


When is a company eligible for group life insurance?

A company will need to have a minimum of 3 full-time employees. Those employees will need to meet age criteria, work within the UK and be actively working for the company.

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