What is Group Life Assurance?
This type of cover is designed to provide a lump sum to beneficiaries if an employee dies whilst covered by the policy. Implementing this type of plan provides your company workforce with a valuable benefit that ultimately enhances your employment contract offering.
Our experience tells us that employers who provide a comprehensive benefits package are able to attract quality staff and more importantly retain the good ones.
Inexpensive benefit with high perceived value
Easy to implement and manage ongoing
At MHA Henderson Loggie Financial Planning, we aim to provide a solution to meet your company’s requirements enabling you to set up a quality employee benefit.
Our engagement to provide administration services in respect of group life assurance schemes includes:
- Understanding the needs of the employer
- Reviewing and agreeing on the basis of the life assurance need
- Obtaining the information required to provide quotations
- Approaching the group life market to obtain competitive rates
- Providing a recommendation that suits and meets the needs of the employer
- Implementing the scheme and ensuring legislative requirements are met
Scheme reviews – Standard Annual review and/or Rate Review
- Obtaining information from employers in a timely manner
- Liaising with the company to make sure the scheme remains fit for purpose
- Implementing the review with the existing insurer
As above, but also:
- Re-broking the group life assurance marketplace at the end of the rate guarantee period
- Liaising with the holding insurer and recommending any changes
- Implementing the review either with the existing insurer or with an alternative insurer
We are also available at any point to answer questions and provide employers with guidance.
Get in touch
If you have any questions about Group Life Assurance and would like to get in touch with us, please email email@example.com.