Group Life

Registered Schemes

Employees are the most valuable asset an organisation has. MetLife’s Registered Group Life policy is designed to ensure employers can give invaluable financial support and certainty to the loved ones of their employees and / or partners, should they die.

All employer-provided Group Life schemes, which are underwritten by MetLife, now also provide complimentary access to a dedicated Bereavement and Probate Service to ensure that employees, who are scheme members, and their families can get support and advice should they suffer a loss. For more information, click here.

For all registered group life policies, assuming they haven’t set up their own registered group life scheme, employers can participate in the MetLife Master Trust, which provides them with an easier, more affordable and accessible way for them to offer tax-free lump sum benefits. For more information, click here.

Key benefits for your clients

• Employers can show they value their employees / partners
• Attract good quality staff
• Raise employee retention
• Tax-efficiency
• Tax-free payments to beneficiaries
• Dedicated Bereavement and Probate service for employees, who are scheme members, and their families

What we offer

By working with us, your clients can benefit from:

• Low cost cover

We offer a cost-effective approach to obtaining Life protection for employees and partners, compared with an individual policy.

• A comprehensive offering

We offer a complete life cover proposition, whereby as standard, all causes of death are covered.

• Flexibility

With our flexible offering, you can work with your clients to choose varying levels of cover for different categories of partners and employees - either a multiple of salary or a defined lump sum payment.

• Cover for any client, small or large
  

No matter the size, shape or industry they operate within, we can work with you to provide Group Life cover for your client. In fact, our cover is available for clients from as few as three employees and / or partners to as many as is required.

• One Step underwriting

With MetLife any future increases to your client’s benefits won’t be required to undergo further underwriting (subject to scheme size).

• A simplified administration approach

We don’t require an end of year adjustment, so clients with expanding schemes can potentially save money*.

• Efficient payments system

At a difficult time, speed can mean everything. With MetLife, trustees will receive speedy payment, often this is much quicker than our promised five day turnaround – thus helping reduce any financial hardship that loved ones may experience following death.

• Bereavement counselling and Probate service

The Bereavement counselling service can help families come to terms with a loss and the probate service can help with any administration which may result.

• A global name with strong backing

With a market value of $39.75 billion** MetLife Inc. is a force to be reckoned with. So you can rely on our financial strength and global stability. MetLife Europe Limited is an affiliate of MetLife, Inc.

• The notional earnings cap from 5th April 2013 is £141,000

For information on Notional Earnings, click here.

Our Group Life Schemes can benefit from favourable tax relief on contributions and benefits if they are registered with HMRC. To find out how your clients can benefit from this tax relief read our how to register guide here or they can consider participating in the MetLife Master Trust.

* Applies to most policies but subject to MetLife being informed of any members joining outside the eligibility criteria or members whose benefits exceeds the free cover limit.

** Figures correct as at 11 November 2011.

Excepted Schemes

MetLife Group Life cover is also available as an Excepted Group Life Policy. This means your clients can give invaluable financial support and certainty to the loved ones of their employees and / or partners, should they die without the need to register the scheme with HMRC for tax benefits. It is important to note that certain criteria for an Excepted Group Life scheme must be met in order for benefit payments to not be treated as chargeable events.

All employer-provided Group Life schemes, which are underwritten by MetLife, now also provide free access to a dedicated Bereavement and Probate Service to ensure that employees, who are scheme members, and their families can get support and advice should they suffer a loss.

Key benefits for your clients

• Employers can show they value their employees / partners
• Attract good quality staff
• Raise employee retention
• Tax-free payments to beneficiaries
• Dedicated Bereavement and Probate service for employees, who are scheme members, and their families

What we offer

By working with us, your clients can benefit from:

• Low cost cover

We offer a cost-effective approach to obtaining Life protection for employees, compared with an individual policy.

• A comprehensive offering

We offer a complete life cover proposition, whereby as standard, all causes of death are covered.

• Cover for any client, small or large

No matter the size, shape or industry they operate within, we can work with you to provide Group Life cover for your client. In fact, our cover is available for clients from as few as three employees and / or partners to as many as is required.

• One Step underwriting

With MetLife any future increases to your client’s benefits won’t be required to undergo further underwriting (subject to scheme size).

• A simplified administration approach

We don’t require an end of year adjustment, so clients with expanding schemes can potentially save money*.

• Efficient payments system

At a difficult time, speed can mean everything. With MetLife, employers or trustees will receive speedy payment, often this is much quicker than our promised five day turnaround – thus helping reduce any financial hardship that loved ones may experience following death.

• A global name with strong backing

With a market value of $39.75 billion** MetLife Inc. is a force to be reckoned with. So you can rely on our financial strength and global stability. MetLife Europe Limited is an affiliate of MetLife, Inc.

• Bereavement counselling and Probate service

Our complimentary Bereavement counselling service can help families come to terms with a loss and the probate service can help with any administration which may result.

• The notional earnings cap from 5th April 2013 is £141,000

For information on Notional Earnings, click here.

Our Group Life Schemes can benefit from favourable tax relief on contributions and benefits if they are registered with HMRC. To find out how your clients can benefit from this tax relief read our how to register guide here or they can consider participating in the MetLife Master Trust.

* Applies to most policies but subject to MetLife being informed of any members joining outside the eligibility criteria or members whose benefits exceeds the free cover limit.

** Figures correct as at 11 November 2011.

Resources

If there is a document you need but can't find on our website, please contact Customer Services on
0845 234 5757.