Question 1

What is group life insurance?

Accepted Answer

Group life insurance allows you to cover your employees under one single policy. Acting as an important employee benefit, the beneficiaries of your staff will receive a large payout if they die whilst under your cover.

So your employees can rest assured that if they die, their loved ones including their partners and children will receive a payout to cover any bereavement and essential living costs for many years to come.

Question 2

How does group life insurance work?

Accepted Answer

Group life insurance is designed to cover a group of people, insuring up to thousands of employees in your organisation.

The benefit of having multiple people covered under one employee insurance policy means that there is significantly less admin compared to insuring people individually.

Group life insurance means your employees will not usually be required to go through medical examinations or underwriting - so everyone can be covered and this can be issued immediately.

You also have the choice of whether your employees will be covered for a multiple of their salary (up to 20x their base salary) or for a fixed amount.

Question 3

What are group life insurance benefits?

Accepted Answer

Staff can receive cover up to 20x their base salary
No fees for employees, it is paid for by the employer
Optional mental health, financial and bereavement support through our Employee Assistance Programme
Guaranteed cover for all employees (up to the Automatic Acceptance Limit)
Access to Doctor on Demand services, including 24/7 virtual GP and prescriptions for members and their families
Access to the YuLife app, which includes wellness challenges, virtual GP, on-demand mental health, financial protection and rewards for completing wellbeing tasks such as walking, meditating and cycling

Question 4

Do I need group life cover?

Accepted Answer

Group life insurance can act as an important employee benefit and is widely considered as one of the top 3 benefits, according to employees surveyed.

By showing an interest in your staff’s wellbeing and financial future, it can often lead to better staff retention, a more motivated workforce and better overall productivity.

Question 5

Am I eligible to apply for employee life cover?

Accepted Answer

Group life cover is available for small businesses with a minimum of 2 employees.

There are often no medicals or underwriting required and in those instances, YuLife can offer instant cover upon registration.

Question 6

Is a group cover cheaper than an individual cover?

Accepted Answer

Buying a group insurance policy can often be cheaper than buying individual policies – since you get the benefit of buying at a group rate.

The pricing from YuLife remains the same for every individual you cover, but this is generally much cheaper than buying an individual policy through work or outside work.

Question 7

What rewards are available?

Accepted Answer

YuLife is passionate about providing a service that rewards you in life, not just death.

Every customer will receive access to our app, which offers daily rewards, in the form of YuCoin, for completing wellness and health activities, including walking, mindfulness and fitness classes.

The YuCoin that you earn can be used to redeem vouchers from some of your favourite brands including Nike, M&S, Amazon and ASOS.

Question 8

What is the difference between group and term life insurance?

Accepted Answer

Term life insurance is a type of life insurance policy that has a specified end date, such as 20 years from the start of the policy. The death benefit will only be paid out if the policyholder dies during the chosen time frame.

Whereas group life insurance pays out for as long as an individual is employed by your organisation.

Question 9

What are the benefits of group life insurance for business owners?

Accepted Answer

Many employers offer life insurance for their staff as it demonstrates a meaningful interest in the lives of employees and their families.

Providing your employees with insurance makes a significant contribution to their financial wellbeing and makes them feel valued. This can help your company to attract and retain the best talent, which can play a big part in the success of your business.

Group Life Insurance that protects, rewards and inspires life.

What is Group Life Insurance?

Financial support for your employees.

Designed to fit your company.

Our game-changing group life insurance features.

Incentivise your people.

Incentivise your people.

We’ll give you a call.

We’ll give you a call.

Frequently asked questions.