Legal & General has added a master trust option to its group life insurance product.
The insurer said the option should help businesses save time and require less paperwork by removing the need to setup a trust as well as handling general administration and the settlement of death claims.
The provider launched its Workplace Savings Mastertrust in 2011.
It follows Metlife which added a master trust to its own group life offering in March.
Legal & General Corporate Business executive managing director Jim Islam said: "Employers want to be able to provide great workplace benefits and this new addition to our suite of employee benefits will help more of them to look after their staff and their families in a practical, supportive way."
