Group Life Insurance enables employers to protect their employee's dependants if an employee dies whilst in service. It is one simple but important way in which employers can help their employees prepare for the unexpected.
In the event of a premature death, the policy can pay a lump sum benefit of up to 12 times the employee's salary (lower multiples apply, depending on the level of any Dependants’ Pension). This can be invaluable in securing the family's financial security, helping to pay for significant costs such as a mortgage or university fees.
The policy can also provide a pension for the employee's spouse or other dependants, ensuring a flow of income.
In addition, policyholders have access to a comprehensive bereavement service through Unum LifeWorks, Unum’s Employee and Employer Assistance Programme, at no extra cost. The service includes face-to-face counselling, financial information and a special bereavement pack, as well as access, on a fee for services basis, to the Unum LifeWorks Critical Incident Support Service should a death have happened in the workplace.
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