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HI Daily - Employers lack knowledge about group life benefits

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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