Canada Life has announced it will offer a master trust for new group life clients through its online administration platform CLASS.
The master trusts are available at no extra cost and avoid the need to arrange stand-alone trusts for group life customers.
The scheme is to be administered with independent trustee firm Trustee Solutions Ltd who will ensure the master trust complies with changes in legislation and regulation.
The combination of CLASS and the master trust means that cover can be arranged within an hour if the relevant details are available, Canada Life said.
John Kempster, senior associate at Trustee Solutions Ltd, said: "Trustee Solutions Ltd is delighted to have the opportunity of working with Canada Life and its new Master Trust, where our experience and pragmatic approach will ensure that benefits are processed in a timely manner and with the minimum of fuss, removing stress at a difficult time for those concerned."
Paul Avis, marketing director at Canada Life Group Insurance, said: "We are thrilled to be able to offer an even simpler way for small employers to be able to offer a valued benefit like Group Life Assurance to their people.
"Providing this additional route through the automated CLASS system is a natural fit too - CLASS is all about ease of use and having a master trust in place speaks very plainly to that philosophy.
"By making Group Life Assurance this quick and easy, companies that may have thought offering these benefits is too complicated will be encouraged to put something in place for their employees and their families."
