Excepted group life is a tax-efficient alternative to membership of a registered group life scheme. It offers lump sum cover only and the same benefit formula must be applied for all members. Benefits don't count towards the member's lifetime allowance.
We've designed our excepted group life cover with the needs of high earners in mind, for example individuals whose total benefits exceed the lifetime allowance, or who've applied for enhanced protection*. In today's competitive job market, it's essential for employers to offer top executives an alternative way to insure their life cover, without encroaching on their pension provision.
But it's not just high earners who could benefit. With no registration, no scheme administrator role and no ongoing reporting duties, it could be a hassle-free option for smaller employers.
Benefits for your clients
- Our competitive rates are guaranteed for two years.**
- We'll take into account any other group life covers (except spouse and partner life cover) held with us when calculating free cover and rates.
- For UK-based employers, we also provide cover for employees seconded overseas or for employees working for subsidiaries in Ireland, the Channel Islands or the Isle of Man.
- RED ARC bereavement support can help employees, line managers and their families to cope with the effects of terminal illness and bereavement.
More product information
For more details about this product and information you can use with clients, please take a look at our literature.
For more information on getting a quote or setting up a scheme, please choose 'Quotes and scheme set-up' from the menu on the left.
*The lifetime allowance is the maximum amount of tax-advantaged benefit an individual can receive from all the registered schemes of which they're a member. This includes pension and lump sum payments (including lump sum death benefits) and is set at £1.65 million for 2008/9.
Enhanced protection is one way in which individuals can protect the value of pension benefits built up before A-day.
**Subject to terms and conditions.