By John Greenwood 8 June 2018.
Grid is calling on the government to exempt excepted group life policies (EGLP) from potential entry, exit and periodic charges to IHT to make offering death in service cover easier for employers to administer.
The group risk industry body is asking the Office of Tax Simplification (OTS) to push for an exemption from the potential charges where the sole asset of a discretionary trust is an EGLP.
Grid is also calling for the removal of the requirement that all members of an EGLP have the same benefit calculation and the alignment of the potential beneficiary classes for EGLPs and benefit-in-kind rules.
There are 782,674 people in EGLPs, across 7,130 schemes, according to latest industry figures.