Life insurance uk

AIG snaps up UK life insurance business from Munich Re

AIG snaps up UK life insurance business from Munich Re Ellipse covers around 370,000 people from its London base AIG has purchased a UK life insurance business from Munich Re, the latest deal by the expanding New York-based insurance company. Ellipse, based in London’s Bermondsey Square, was launched in 2006 and provides employers with life, critical illness and income protection cover for workers. About 370,000 people are covered by the company. Terms of the AIG deal were not disclosed. While smaller than Validus, the Bermuda reinsurer that AIG agreed to buy for $5.6 billion (€4.82 billion) in January, the purchase is the latest sign of the group’s renewed appetite to expand under chief...

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Life insurance: How our family tragedy led to a financial crisis, Money, The Guardian

A Cornwall-based man whose 48-year-old wife died in tragic circumstances has described the struggle to get their life insurer to pay out on a £340,000 policy – and the terrible impact it has had on his family’s finances. Michael Leatherbarrow, whose wife Corinne died last October after falling from local cliffs, says repeated delays by Royal London have exacerbated his problems as he struggles to bring up their two children aged nine and 12 on his own. At the heart of the dispute is her mental health, not least because when the couple took out the policy more than 15 years ago, she had ticked a box saying she had not suffered from anxiety or depression in the past. Following Guardian Money’...

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UK Human Resources

All employees in a regular position with an assignment of 0.75 FTE or greater automatically receive life insurance coverage equal to one times your salary at no cost. If your salary is more than $50,000, you will pay tax on the premiums UK pays toward the cost of any amount higher than $50,000. You may lower your coverage level to $50,000 to avoid any additional taxes. (Note: Life insurance is reduced to 50 percent of salary for employees hired on or after July 1, 2017, who are age 65 and older and 35 percent for employees hired who are age 70 and older). Employees may also purchase optional life insurance, up to eight times their annual salary. The need for life insurance varies greatly...

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