| Provider |
- Unum Limited
- Set up through Unum Limited Master Trust to simplify administration for employers
|
| Benefits |
- Choice of five benefit amounts - £10k, £20k, £30k, £40k, £50k
- Lump sum benefit upon death of insured person
|
| Additional support |
- Bereavement counselling and probate support
|
| Type of coverage |
- Two year contract with the employer
- Voluntary cover is funded by the employee
- Flexible cover is funded by the employer, offered through a ‘flex pot’ or jointly funded by the employer and employee
|
| Who can be covered? |
- The employee, who must be actively at work and between ages 16 and 69 inclusive when selecting cover
- Cover ceases at the end of the policy year following the employee’s 70th birthday
|
| Cost of cover |
- Monthly premiums (rates available on request)
- Premiums are based on the employee’s age when selecting cover
- Premiums may increase as the employee gets older
- Non-smoker discount
- Employee premiums are collected by the employer, deducted from the employee’s monthly pay
|
| What is not covered? |
- No benefit or increase in benefit is payable if death is related to a pre-existing condition during the first two years of cover
- A pre-existing condition, means any medical condition for which the employee has received treatment, care or services (including diagnostic measures), or took prescribed drugs or medicines) during the five years before the start of cover
- No benefit or increase in benefit is payable if death is as a result of suicide or serious self-harm or injury during first two years of cover
|
| Changing cover |
- Cover level can be either increased or decreased following a specified lifestyle event (e.g. marriage or birth of a child) or during annual enrolment
|
| Rate guarantee |
- Rates are guaranteed for two years
- Terms can be reviewed and amended if there is a significant change to the employer’s business
|
