Provides peace of mind and a tax-free lump sum for an employee's loved ones in the event of an untimely death.
Cover depends on scheme level - terms and conditions apply.
When life is going well, it’s easy not to think about more difficult times.
Group life insurance (also known as Death in Service) is one of the simplest but most highly-valued employee benefits that a company can offer its staff.
If an employee were to die unexpectedly, the life cover you put in place for them would help ensure their family could cope financially - relieving money worries at a very difficult time.
Life cover has always been an expected and valued employee benefit as well as inexpensive to provide. It can assist in attracting and retaining talent within your business, while at the same time demonstrating your duty of care as an employer.
Benefits are normally based on the employee's earnings (up to 12 x annual salary) and can be tailored to meet the employer's specific needs and those of their staff.
We offer Group Life Insurance products to suit all types of employer:
Our Registered Group Life product is written under a trust and provides a tax-free lump sum up to the Lifetime Allowance (LTA), within HM Revenue and Customs (HMRC) regulations for a registered occupational pension scheme.
People insured under the policy can have different levels of benefit, e.g. Managers could have 4 x salary; junior staff could have 2 x salary.
Registered Group Life customers also have access to our Master Trust at no additional cost.
Excepted Group Life Insurance provides tax-free benefits and is sometimes used for high earners. It allows for lump sum benefits to be paid outside of the Lifetime Allowance (LTA).
Most Excepted arrangements are run alongside a registered group life scheme (although they don’t need to be) and benefit from the same unit rate and free cover levels.
However, a separate trust (and trustee bank account) is required.
All people insured under the policy must have the same level of benefit, e.g. 4 x salary.
Simplicity Life is a simple version of our Registered Group Life policy providing an affordable solution for employers who want to give a basic level of life cover to their employees for the first time.
A policy is taken out by the employer to provide a lump sum benefit to an employee should their spouse or partner die while insured.
A Spouse’s and Partner’s Group Life product is only available when written in association with a Registered Group Life policy which is insured with Unum for the same employees.
Group Life customers automatically have access to a range of support services at no additional cost, these include:
Any company wishing to offer its employees Group Life Cover should have a Discretionary Trust in place in order to pay out the lump sum death benefit, free of tax up to the Lifetime Allowance.
To make life simpler for you, the Unum Master Trust has been set up. All employers taking out a Unum Registered Group Life policy can use it without any additional cost to ensure they get all the tax benefits with none of the associated time-consuming and complex administration.
Unum LifeWorks™ our Employee/ Employer Assistance Programme (EAP)
Mental Health Pathway
Unum’s Mental Health Pathway is an early intervention service that enables both employers and employees to access specialist support, quickly, when mental health concerns are first raised.