Cover Magazine - Employers 'do not accurately' understand group life policies - GRiD

Less than half of employers realise that GLA policies pay out regardless of whether death is work related

Fifty-five percent of employers do fully grasp the circumstances in which a group life assurance (GLA) policy would pay out - a figure that rises to 74% for organisations with other 250 employees - research by industry body Group Life Development (GRiD) has found.

Only 45% of employers correctly understand that GLA policies pay out for any reason, at any time, while the individual is employed by the policyholder, whether or not the death is work related. Over a third (36%) of employers wrongly believe that the employee would have to be on company or at work at the time of death, or die by accident at work to be eligible for a pay-out.

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