Aviva has launched a group life master trust aimed at offering protection solutions to SMEs (Small and Medium-sized Enterprises).
The master trust will allow Aviva to write multiple group life business under a single trust.
Aviva's master trust will be available on both registered and excepted policies.
It is also available through the group protection online system for any group life policies that cover between three and 100 lives.
Aviva group protection online is provided and underwritten by Friends Life Limited, part of the Aviva Group.
Steve Bridger, MD for group protection at Aviva, said: "I'm delighted to be launching a Master Trust solution as it means more businesses will be able to offer their employees vital protection.
"Cost and resources can be a real barrier for smaller companies who want to offer their staff workplace benefits. Using a Master Trust can reduce the cost and the time spent setting up a benefit and managing it in the future.
"Through auto-enrolment, hundreds of thousands of companies are in the middle of setting up their workplace pension schemes. This may be spurring business owners to take a look at what other benefits they can offer their employees at the same time."
He added: "When creating this solution it was really important that we built something that employers could use with all their staff - from CEO to intern.
"Aviva is the first to cover an Excepted Group Life policy under the Master Trust solution and I think many will see real value in our offering."
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