Aon Employee Benefits has said that tax advantages removed with new Optional Remuneration Arrangement (OPRA) rules, mean both employers and employees will need to be ready for tax charges.
The tax changes impact two flexible benefit arrangements, group life assurance and group income protection. The changes will apply from 6 April 2018 at the latest as part of salary sacrifice changes in the Finance Act 2017. Aon says that the way employers provide life cover to employees is also in the spotlight. Cover on a ‘registered' and ‘excepted' basis is now treated differently for Benefit in Kind (BIK) purposes. Given the rising popularity of excepted arrangements, there is significant...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.