The coverage for this type of policy is typically linked to the employee’s salary, often set at a multiple of the annual salary (e.g., 2x, 3x, or 4x).

An extremely tax efficient way of providing life insurance for employees, Group Life Assurance policies have no P11D value and are set up in trust, typically meaning the benefit is paid tax-free. According to the Association of British Insurers (ABI), around 9.5 million UK employees were covered by group life assurance policies in 2020.

Setting up these policies correctly and ensuring the right trust is in place is paramount. We help clients review the appropriate options and ensure the policies are fit for purpose, providing the best value through access to multiple insurers.