Who can be covered?
Wherever possible we’ll tailor the eligibility conditions for a scheme to suit your needs. These will normally include minimum and maximum entry ages and any service qualifications. The maximum age we'll cover to is 75, except for spouse and partner life cover, which is 70. Both full and part-time employees are eligible and those on fixed-term contracts may also be included (except for single life high earner’s cover).
How is a scheme set up?
Your financial adviser will ask us for a quote. If you accept it, then the cover will come into effect as soon as we have written confirmation of your acceptance and:
- For group life cover, a note of your scheme’s registration number (pension scheme tax reference number) – your financial adviser can tell you more about this.
- For excepted group life, single life high earner’s and equity partner group life cover, a copy of the executed trust.
You’ll then need to send us full information within 14 days of the start date, including the initial contribution and member details.
If we’re taking over an existing scheme, we’ll need full details from the previous insurer.
Is the RED ARC service taxable as a benefit in kind?
No. RED ARC isn't part of our standard terms and conditions: we offer it as an additional service. This means it's not liable for P11D.
Next steps
If you would like more information about our group-life cover, you should talk to your financial adviser.
Further information... Who should I talk to?
Speak to your financial adviser to find out more. If you don't have an adviser, the IFA Promotion Service or the Society of Financial Advisers can help you find one.