Group Life Insurance.
Group Life Insurance pays a tax-free lump sum to an employee’s nominated beneficiary in the event of the employee’s death.
- Attract and retain employees
- Offset against tax
- Improve morale and productivity
What is Group Life Insurance?
Group life insurance, often referred to as group life insurance, is a type of insurance policy provided by employers to their employees as a benefit.
It offers financial protection to employees’ beneficiaries in the unfortunate event of the employee’s death. Under this policy, a lump sum payment, known as the death benefit, is disbursed to the designated beneficiaries upon the insured employee’s death.
Group life insurance is typically more affordable than individual life insurance policies because it spreads the risk among a group of individuals. It not only provides peace of mind to employees knowing their loved ones are protected but also serves as a valuable tool for businesses to attract and retain talent while potentially enjoying tax benefits.
This insurance is an essential component of employee benefits packages, contributing to overall workforce well-being and security.
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Why choose Bespoke Benefits for
Group Life Insurance?
At Bespoke Benefits, we tailor our offerings to uniquely fit your organisation’s needs, ensuring that every employee feels valued and supported. Our customised approach means you get more than just a standard benefits package – you get solutions that align perfectly with your company culture and employee preferences.
Expert advice
Benefit from knowledgeable guidance tailored to your specific needs.
Whole of market
Access a wide range of options and providers to find the best solution for you.
Year round support & advice
Receive continuous assistance and guidance throughout the year, whenever you need it.
What's covered by Group Life Insurance?
Group Life Insurance pays a tax-free lump sum to an employee’s nominated beneficiary upon the employee’s death, providing financial support during a difficult time.
Employees are covered if they meet the scheme’s eligibility criteria, and coverage often includes pre-existing conditions.
Optional Extras
Group Life Insurance can include:
How do I get Group Life Insurance?
Book a Benefit Consultation
Schedule a personalised consultation with one of our expert advisors today.
We’ll take the time to understand your specific needs and guide you through the best coverage options available.
We'll review the market
We believe in providing you with the best options available.
That’s why we conduct thorough market reviews to ensure you get the most comprehensive and competitively priced insurance solutions.
We'll report back
After our thorough market review and personalised consultation, we’ll report back to you with our findings and recommendations.
Our goal is to ensure you have all the information you need to make the best decision for your insurance needs.
Group Life Insurance FAQs
What is covered by Group Life Insurance?
Group Life Insurance pays a tax-free lump sum to an employee’s nominated beneficiary upon the employee’s death, providing financial support during a difficult time. Employees are covered if they meet the scheme’s eligibility criteria, and coverage often includes pre-existing conditions.
What is not covered by Group Life Insurance?
Claims are usually only rejected if the employee does not meet the eligibility criteria. It is essential to ensure that these criteria include all intended employees.
How much does Group Life Insurance cost?
The cost of Group Life Insurance can vary based on factors such as the total number of employees, the level of coverage selected, and the age and health profile of the employees.
Generally, premiums for Group Life Insurance are affordable because they are spread across the entire group, making it a cost-effective way to provide valuable financial protection to employees’ beneficiaries. For a precise quote tailored to your organisation’s needs, please get in touch with us below.
Get a Quote for Group Life Insurance
Contact us today to experience personalised service, expert advice, and comprehensive coverage tailored to you.
- Personalised Service
Receive individual attention and custom-tailored insurance solutions designed to meet your specific needs and circumstances.
- Expert Guidance
Benefit from the knowledge and experience of our team of professionals who are dedicated to providing clear, informed advice to help you make the best insurance decisions.
- Comprehensive Coverage
Explore a wide range of insurance options, from health and life insurance to home and travel, ensuring that you have all aspects of your life protected under one trusted provider.
Or get in touch directly
0116 502 0960
Speak to an expert today
hello@bespokebenefits.co.uk
We'll respond within 24 hours
