Many employers now use group life assurance policies to insure
death benefits for employees, but the trusts that sit behind these
policies are often ignored.
Our group life and employee benefits team have put together nine
top tips for employers to consider when reviewing their group life
arrangements and considering whether the trusts that are used to
hold the policies and pay benefits in the event of a member's
death are fit for purpose.
1. Find your group life trust deed
This one sounds basic, but it's all too often the case that
trust deeds go missing. If you have a group life policy that pays
into a trust but you no longer have a trust deed, then distributing
death benefits will present problems as decisions must be taken in
accordance with the rules of that trust. This problem can often be
resolved with a replacement trust deed but you should take legal
advice before replacing a missing trust deed. We have extensive
experience of helping employers of all
