When it comes to employee benefits, a group life insurance arrangement is one of the basic building blocks. It’s where many businesses start and it is an ideal compliment to a workplace pension. Stonebridge life insurance.
In most cases, group life insurance is designed to provide a lump sum payment to an employee's family in the event they die while employed by the company.
Group life insurance is a relatively low cost way to make a big difference to employee satisfaction and can help make it easier to attract and retain staff.
The group approach is essentially the same as buying in bulk, so the cost per employee is typically lower than if they were to buy the same benefits themselves. As a result, the perceived value of the benefit it often higher than the actual cost to the business.
How to buy a life insurance policy
Why arrange group life insurance through Stonebridge?
At Stonebridge, we have significant experience in arranging employee benefits schemes for businesses across many industries and of all shapes and sizes. When it comes to group life cover, we can help you to ensure it is:
Affordable: Providing a £100,000 benefit can cost as little as £100 a year per employee.
Backed by additional support services: We can arrange cover that includes extra benefits like bereavement counselling.
Easy to set up: For instance, in most cases employees won't need to answer any medical questions before they are covered.
Simple to administer: You only need tell the insurer who is covered under the policy a few times a year
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Tax efficient: We'll work with you to identify the most tax efficient way to set up your group life cover, whether that means you pay the premiums or employees do so through the