Group Life

Group Life cover is often provided by Employers for the benefit of their Employees' dependants in the event that an Employee dies whilst working for the Employer.

Benefits are normally expressed as a multiple of salary i.e. 2 x salary or 4 x salary but can be expressed as a flat rate per Employee if preferred.

Employers achieve premium savings by insuring Employees as a group rather than applying for individual policies and the insurers will normally set an underwriting limit below which they do not require medical evidence for members. For a large scheme this means that most of the members will not have to provide their medical history and cover can be arranged immediately.

In Guernsey it is a requirement that Group Life benefits insured by an Employer for their Employees are placed under a trust and approved by the Administrator of Taxes. In Jersey, tax approval for stand alone lump sum schemes is not required but it may be advisable to have benefits written under a Trust. In the event of a claim, the insurers pay the lump sum benefits to the Trustee and (within income tax limits) these are paid on by the Trustees to the members beneficiaries free of tax.

Rossborough Financial can discuss your individual requirements with you and provide no obligation quotes for your staff to enable you as the Employer to make an informed choice.  Contact us for more details.

Contact us

Rossborough Financial Services Limited

Email: enquiries@rfsl.co.uk

Jersey

Phone: 01534 500662
Fax: 01534 732262

PO Box 332, 41 La Motte Street
St Helier, Jersey JE4 9YA

Guernsey

Phone: 01481 241534
Fax: 01481 241535

PO Box 127, Rossborough House
Bulwer Avenue, St Sampsons 
Guernsey GY1 3HG

Meet the team

Meet the Rossborough Financial team and get in touch.
Meet the team page

Current Vacancies

Current Jersey Vacancies

There are no current vacancies