International Group Term Life Insurance

Protect your team - and your business

Group term life insurance is designed to provide for your employees' dependents in the event of an employee's death, with the insurance cover providing a lump sum and/or income to any dependents on death. More importantly it provides the employee with peace of mind that, should the worst happen, their close family will not be left to struggle with financial difficulties.

The benefit of group term life insurance is one we all hope will never be needed, but having it in place demonstrates care for the welfare of your employees and their families.

No matter what size or type your organisation is, you can have a flexibly designed employee benefit program. You can access advice both online and offline to ensure you get precisely what you want. Other benefits available include our disability insurance; please follow the link for more information on this, or feel free to contact us for further details.

You'll be tapping into Bellwood Prestbury International's experience to ensure that the design and implementation of a complete range of employee benefits for your overseas workforce, including any group term life insurance provision, is on target.

In less developed countries more and more employers are looking beyond local insurance companies, as the market is often in its infancy with insufficient capacity to underwrite the amounts involved. You can choose to use us to cover local companies (subject to local regulations) if they require the security and quality offered by an international insurance company.

 

What are the advantages of our group term life insurance policy?

Good employment benefits can make the difference between keeping your key staff and losing them to a competitor, but there are many advantages both for you as an employer and for the staff that receive them.

For employers

• You can recruit the best candidates - and keep them.
• You will provide security and transfer the risk without putting an unacceptable strain on company resources.
• You can usually claim the costs as a business expense.
• A group term life insurance policy can be put in place quickly with the minimum of paperwork and with little time or cost involved in administration.

For the employee

• The biggest benefit for most employees is peace of mind. To know that their financial security and his/her dependants has been provided for is beyond price.
• Should they have to claim, any lump sum payable is normally free from tax.

What cover does group term life insurance provide?

You are free to select the level of insurance benefit for your employees, such as a fixed sum or a multiple of salary.

Your final decision may be driven by cost, but other factors will inevitably have an influence:

• your employees expectations
• the employment philosophy of your organisation
• your company's desire to provide a realistic benefit
• the group term life insurance cover provided by your competitors.

For further information on group term life insurance or any of our other insurance services, please click the link to contact us - we'll be delighted to answer any questions you may have with straight answers.

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