British Workers Unnecessarily Pay For Life Insurance

Posted by admin

August 13, 2008

Out of 1,300 UK employees surveyed by AON, a global leader in risk management, 77% said they weren’t provided with life insurance by their employers, or if they were, they weren’t aware of the benefits of such policy, according to the FT Adviser.

Aon goes on to say that nearly 40% of UK workers are indeed covered by their employer’s life assurance policy. The head of Risk Benefits at Aon, Paul White, urged employees to check with their employer to verify if they are in fact covered through the company. If so, workers could be saving money from this unnecessary expense, which would be welcome during this time of economic uncertainty.

Mr White goes on to say, “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.”

If you feel you might be paying for life assurance because you are unsure if your employer already provides this cover, simply speak with the appropriate contact where you work. You could be saving money whilst having the peace of mind that you are covered by your employer.

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