Half don’t understand when the policy pays out.
Employers lack knowledge about the inherent benefits of group life assurance (GLA), including the circumstances in which employees would receive a payout, research by Group Risk Development (GRiD) shows.
A poll by the group risk association found 55% of employers do not accurately understand the circumstances in which a GLA policy would pay out. This rose to 74% for organisations with over 250 staff.
Only 45% of employers correctly understand that GLA pays out a benefit on an employee’s death for any reason, at any time while they are in employment with the sponsoring employer.
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