Life Insurance Search

A piece of research by AON Consulting has highlighted concerns that some people in the UK may be paying out twice for life insurance.

This is because many, 77%, were in the dark about whether their employers had life insurance cover policies for them. However, it is believed that around 40% of UK employees do actually have life cover through their employers, either decreasing term or level term life insurance, meaning that many are forking out unnecessarily for protection they already have.

Paul White, AON’s head of risk benefits, commented, “Employers have long recognised the value of offering life assurance as part of the overall benefits mix to attract and retain the best talent.

”Corporate life assurance rates are currently very competitive, often significantly lower than the rates that can be obtained by an individual.

”This provides the employer with the opportunity to give and communicate a cost effective, tax-free benefit that employees really want and indeed will often pay for themselves.”