Group Contracts

Group Life Assurance

Risk Assurance Management Limited acting in it's capacity as a Lloyd's
Coverholder provides registered Group Life Assurance benefits that are underwritten by certain underwriters at Lloyd's.

What is Group Life Assurance?

A Group Life Assurance Scheme provides a group of specified individuals
(members) with Lump Sum benefit on death in service.

These benefits are secured by means of a group life policy document issued
to the policyholder (the Trustee/s). The payment of any life assurance benefit
is made payable to the Trustees of the scheme for settlement to the beneficiary.

The cover may be provided by means of a registered occupational pension scheme.
The pension scheme is registered with HM Revenue & Customs (HMRC) by the Scheme Administrator online. Risk Assurance Management Ltd are unable to
act as a Scheme Administrator. Risk will only be assumed on a scheme where
there is a HMRC registration number.

Alternatively the cover may be provided by means of a non-registered scheme known as an Excepted Policy. This policy does not require registration with HMRC and is defined in Section 480 of the Income Tax (Trading & Other Income) Act 2005 to meet the conditions as set out in Sections 481 and 482 of the Act.

Who can establish a Group Life Assurance Scheme?

Employers wishing to provide a life assurance benefit for their employees
under a group life scheme.