Group Life Protection
What is Group Life Protection
Group Life insurance makes sure your employee’s family will be looked after with the security of a financial lump sum and/or pension benefit in the untimely event of their death.
How does it work?
- The scheme is set up under trust approved by the Revenue Commissioners. We will submit the documentation for Revenue and Pensions Authority approval.
- You decide what level of benefit you want to cover. For example: employers generally choose to insure a multiple of their employee’s salary but it can also be a flat amount.
- In the event of the death of an insured member Aviva will pay a lump sum benefit to the Trustees who will then arrange to transfer the benefit to the employee’s beneficiaries.
Group Life Summary Benefits
A Financial Broker will give you the best type of guidance on what products are suitable to your needs. They can explain in detail how this product works, however below outlines a summary of the benefits Aviva can offer:
| Lump Sum Benefit | Cover can be a multiple of salary or a fixed amount |
| Dependant’s Death In Service Pension | Cover can be a % of salary, a % of pension benefit or a fixed amount. It can be payable to a Spouse or to any financial dependant. |
| Children’s Death In Service Pension | Cover can be a % of salary, a % of pension benefit or a fixed amount. It can be payable to a child or children up to their 18th birthday (or 23rd birthday if in full-time education). |
| Ceasing Age | Up to age 70 |
| Continued Cover | We can provide cover for a number of months for a member who has been made redundant. Our technical guide outlines how this feature operates. We offer a continuation option which allows an employee to take out an equivalent individual policy in their own name, should they leave the company. Our technical guide outlines how this feature operates. |
| Free Cover Limit (FCL) | The level of benefit where we won’t seek medical evidence for individuals with benefits below this amount. The FCL is outlined on your quote and policy schedule. |
| Best Doctors, 2nd medical opinion | Members and their immediate family get access to a second medical opinion from a world-renowned expert at no extra cost. |
| Aviva Family Care, mental health support service | Members and their immediate family get access to a counselling and psychotherapy service delivered by a team of clinical, counselling and health psychologists registered with the Irish Psychological Society. |
Exclusive Benefits to Aviva
Aviva want your employees to be provided with the right care when they need it most so we offer members with access to some fantastic additional value added benefits, including
Aviva Care
With your protection policy you have access to the following services through our Aviva Care benefit:
- Digital GP
- Best Doctors Second Medical Opinion
- Family Care Mental Health Support
- Bereavement Support
If I want to proceed….
Quote
You should contact your financial advisor to request a quote on your behalf. We will require some details which your financial advisor can go through with you, such as the benefit levels required and member data including:
- Dates of birth
- Gender
- Salary
- Occupation
- Marital status (if relevant to benefit structure)
Once we produce the quotation, we will send it to your financial advisor who will go through it with you.
Our quotations are valid for 3 months from the date of issue.
New Business
If I want to set up my scheme with Aviva, what do I need to do?
You should let your financial advisor know that you would like to proceed and they will inform Aviva. If there are changes to the membership data that we quoted, updated details should be provided at this point.
We will review the data and either confirm risk or request additional information.
We will issue our Group Protection application form for completion and if any members benefit exceeds the Free Cover Limit, we will also issue a Statement of Health form.
When the scheme is fully set up, we will issue New Business documentation to your financial advisor which will include:
- Acceptance letter
- Policy Conditions
- Policy Schedule
- Underwriting member schedule (if any member exceeds the free cover limit)
- tatement of Account – premiums are due within 30 days of going on risk
Underwriting
Members of an Employer sponsored scheme do not usually require underwriting assessment and are automatically included for their benefits.
Examples of exceptions to this include:
- Late entrants to the scheme or members who join outside the normal scheme rules
- Members whose benefits exceed the Free Cover
- Voluntary schemes or schemes that are not compulsory
If an underwriting assessment is required we will ask your Employee to complete a Statement of Health form. We will include the necessary forms in the New Business or Renewal pack that we send to your Financial Broker.
The Statement of Health should be returned to Aviva where an Underwriter will review it. Usually this is all the information we need to confirm cover but in some cases, for example where a material medical history is disclosed, we may need more information or additional evidence before we can accept cover.
If we do need more information or evidence we will tell you what the next steps are.
Renewal
You select the scheme renewal date when you are completing the application form. Six weeks before each renewal date, we will issue a pre-renewal. This will:
- give you the opportunity to update any changes to the member data.
- include a provisional invoice – payment is due within 30 days of the renewal date to maintain cover.
The updated membership data should not be completed before the renewal date as a member could be missed from the data and may not be eligible for cover at that point. A new member who is not included at the first opportunity does not qualify for Free Cover so an excluded member will have to provide medical evidence to us before we can assume risk.
Once the updated information is received in Aviva, we will issue your renewal pack to your financial advisor, including the final statement of account.
As this is a group arrangement, we don’t issue individual member costs. The policy schedule will outline the total benefit covered and the total premium due.
Claims
In the event of a death claim, Aviva will approach the claim with a sensitive and diplomatic approach. In the event of a claim you can contact your financial advisor or our claims team who will guide you through the process.
At times like this, we want to make the process as simple as possible for all involved so the initial information we require is:
- Scheme name and number
- Deceased member’s name and date of birth
On receipt of this information, we will be in touch to outline our requirements which can include the deceased members birth certificate, death certificate and their last 3 months payslips.
If you have any questions and would like to contact a member of our claims team you can:
Call: 1890 882 019 or email: grouprenewals@aviva.com
Once necessary documentation has been received and the claim is processed, Aviva will pay the lump sum benefit to the Trustees of the plan who will arrange for the payment to be transferred to your employee’s beneficiaries.