The impact of autoenrolment on group risk benefits has been outlined in a Canada Life guide for corporate clients.
The guide is split into two sections. The first aims to provide a detailed, jargon-free explanation of autoenrolment and the second explores the effects on group risk benefit provision.
Canada Life sets up potential issues in the guide and straightforward solutions; default terms, a simple accounting process and certainty of cover are all laid out as well as FAQs.
Paul Avis, sales and marketing director at Canada Life Group Insurance, said: "The introduction of automatic enrolment may offer fantastic potential for the group risk market, as it provides advisers with the opportunity to explore the extension of risk benefit packages with their clients.
"We anticipate that, over the coming months, there will be a move away from pension-linked risk scheme membership towards all-employee provision."
He added it was "vital" that corporate clients and their employees were well informed about the consequent effects autoenrolment may have on group risk benefits.
The phased launch of automatic enrolment will begin next month.
