For employees, Unum's Group Life Insurance provides the following benefits:
- Peace of mind knowing that a provision has been made for dependants.
- A lump sum and / or an ongoing pension option to cover some of a dependant's most significant costs. The lump sum can be up to 12 times salary (5 times salary if a dependant's pension exists). The maximum dependant's pension benefit is 50% of salary.
- An immediate lump sum that is normally free of Inheritance Tax and paid out quickly as it is provided under a discretionary trust.
- Access to free bereavement service, which includes face-to-face counselling sessions, financial information and support and a special bereavement pack.
For employers, Unum's Group Life Insurance provides the following benefits:
- A highly valued benefit package through a simple, flexible and cost-effective policy.
- Part of a complete and attractive benefits package helping to recruit and retain high calibre staff.
- Information to help set up the scheme under HMRC rules.
- Access to the Unum LifeWorks Critical Incident Support Service should a death have happened in the workplace. This is available to employers on a fee for service basis and can advise on the most appropriate way to support employees following the death of a colleague, including telephone or on-site support, if appropriate, to help employees with the grieving process.
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