A midlands-based employee benefits and health insurer has launched a group life assurance initiative aimed at the SME and MSME market.
The BHSF plan features a fixed level of death in service benefit for a pre-stated market rate premium.
Underwritten at Lloyd's, the product offers either £25,000 or £50,000 of benefit in the event of a covered employee's death. The product benefits from inclusion in a master trust, making benefits tax free at the point of payment.
Brian Hall, sales and marketing director at BHSF, said: "We have looked at such products before but the gathering of detailed rating information from employers often proved a stumbling block.
"This clean and transparent approach will, we believe, appeal to employers who wish to offer cover to their workforce, but do not have the time to wade through a complex process."
He added rates were competitive and its services included the support of an experienced underwriter.
The product will be available to existing BHSF corporate customers in December, launching to the wider market in early 2013.
