Protection Workplace Protection We Offer Group Life Insurance 1360X784

Group Life Insurance

Support for families when they need it most

Discover the benefits of Group Life Insurance, including who we cover, what support you’ll receive and how to apply.

About Group Life Insurance

Our life cover provides a tax-free, one-off payment to an employee’s family if your employee dies while working for you.

As an employer, you can choose who you want to cover in your policy. For example, you might choose to include all permanent employees aged between 16 and 70.

Organisations we cover

We can cover a wide range of organisations, including:

  • Companies registered in the UK
  • Companies registered in the Channel Islands or Isle of Man
  • Branch offices of companies outside the UK, Channel Islands or Isle of Man, provided the branch is registered in the UK, Channel Islands or Isle of Man
  • Equity partnerships
  • Limited liability partnerships
  • Trade bodies, charities or any other legal entity

Employees we cover

We can cover most employees who work in the UK, including:

  • Permanent employees
  • Part-time employees
  • Directors
  • Zero-hour contract employees
  • Fixed-term contract employees
  • Temporary employees

Please get in touch if you want to cover employees that aren’t on this list.

Setting up or using a trust

You’ll need a trust so that we can make a tax-free payment to the employee’s family and dependants.

Joining a Master Trust

As an employer, you can set up your own trust or use our pre-arranged Master Trust. By joining the Master Trust, you’ll provide valued life benefits for your employees without the extra work of administering a scheme.

Setting up a discretionary trust

A discretionary trust lets you put money aside for specific beneficiaries. The trust is managed at the trustees’ discretion – they will follow the trust ‘rules,’ which state how and when the beneficiaries will receive the trust income or capital.

You should always seek independent advice to decide which trust arrangement is right for you.

Who can act as the trustees?

If you use a discretionary trust, the trustees could be:

  • People in your organisation
  • Named individuals
  • An independent third party

Trusts explained. Find out about the different types of trust we offer.

Benefits we can cover

Multiple of salary

As an employer, you can choose to cover your employees by a multiple of their salary – up to 10 times their salary. For example, if you chose to cover an employee earning £25,000 by a multiple of four, their total benefit would be £100,000.

Fixed benefits

You can set a fixed amount for all employees, regardless of their salary. For example, all of your employees could receive a fixed benefit of £100,000.

Optional benefits:

Redundancy cover

We can cover any employee who’s been made redundant, for a maximum of two years. This will start from the date of redundancy.

Example policies

Here are two examples of policies you could choose:

  Policy one Policy two
Eligibility All permanent employees Pension scheme members All other employees
Benefit Six times salary Four times salary £50,000 (fixed benefit)
Redundancy cover Not selected Covered for 6 months Not selected 
Early retirement cover Not selected Not selected Not selected

Choosing when the cover starts

You can decide which employees you want to cover and when their cover begins.

Age

You’ll need to set a minimum and maximum age limit to employees you want to cover. Our policy covers employees between 16 and 75 years old.

Entry date

Decide when you want your employees to join the policy. It can either be the day your employee joins the company, or on a set day of the year, such as the first of the month.

Minimum service

You can choose to cover employees after a set period of employment. For example, once they’ve passed a probationary period.

Support services

With our Group Life Insurance, your employees can access the following services for free.

Bereavement Counselling

They’ll get unlimited access to a 24-hour helpline and up to four face-to-face or structured telephone sessions with a qualified counsellor. If an employee dies when they’re covered by the scheme, their family and colleagues will also have access to bereavement counselling.

Probate Helpline

This helpline gives employees access to experts specialising in family disputes, validity of wills, power of attorney and obtaining probate. The employee’s family can use this helpline if the employee dies while covered by our policy.

Getting a quote

To get a quote we’ll need the following information:

  • Employer details
  • The benefits you want to include
  • What age the cover should end
  • Cover details for individual employees (e.g. gender, date of birth, salary, occupation, work location, business travel)

We might need more information if another provider already covers the benefits.

Please send your quote request to: groupquotes@canadalife.co.uk

Additional information

Next steps

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Get in touch

Call customer services

0345 223 8000

or send an email

Monday – Friday 9am to 5pm

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