Media - Press Releases

Unum launches Excepted Group Life Policy Master Trust

4th October 2018

Simplified Trust solution designed to enhance the Excepted Group Life offering for employers and help close the protection gap.

Employee benefits specialist Unum launches Excepted Group Life Policy (EGLP) Master Trust, a life insurance solution designed to simplify the employer experience when providing life cover for employees.

The offering allows Unum to write multiple Group Life policies under a single Master Trust, saving employers time and reducing the administrative burden associated with setup, on-going management, and benefits payments.

By simplifying the employer experience with Excepted Group Life, Unum aims to make it easier for employers to offer this important financial protection to staff.

According to GRiD’s 2017 Employer Survey, 46% of employers do not offer Group Life Insurance protection to their staff. Nearly one in four employers (24%) that don’t offer Group Life Insurance to their staff say it’s too expensive to setup and maintain there’s no internal resource to administer, and 83% of employers surveyed overestimated the cost of providing Group Life Insurance to employees.

Ambika Fraser, Head of Proposition at Unum UK, said:

“Our long-term goal with group risk product enhancements is to help close the protection gap among UK workers. GRiD’s research indicates there’s a sizeable portion of the UK’s workforce that is under-protected, and by streamlining the customer experience, we hope to increase the number of workers who have access to this important cover.

“The peace of mind of knowing that loved ones will be provided for in the event of untimely death is a valuable financial protection benefit that a company can offer its staff. Further, access to Unum Group Life Insurance provides employees access to Bereavement support and Employee Assistance Programmes.”

Unum’s EGLP Master Trust has several benefits to employers.

  • Ready to go – the Master Trust can be used straightaway, there’s no need to set up a new trust
  • No need for employers to appoint or act as trustees – professional trustee services are provided as part of the Master Trust (includes responding to any changes in legislation affecting the Master Trust)
  • Provided at no additional charge – there’s no additional charge for using the Unum Excepted Group Life Master Trust
  • Reduced administration – the trust is administered by PTL Governance Ltd, an award-winning provider of trustee and governance services.

The trust is administered by PTL Governance Ltd, an award-winning provider of trustee and governance services.

To find out more about Unum’s life assurance solutions, visit