Paul Avis: Will 2018 prove to be the year for trusts?

clock • 4 min read

The Autumn Budget contained important small print that, depending on whether it gets its act together in 2018, writes Paul Avis, could end up proving a real concern or genuine opportunity for the group life assurance sector

Group life assurance (GLA) is an amazingly tax-efficient benefit. Lump sum benefits are paid to an employee's survivors or nominated beneficiaries tax-free and fall outside of the deceased person's estate. Premiums paid are tax-free for the employer. There is an exception, however, with salary sacrifice excepted policies treated as P11d/benefits in kind for employees following  OPRA changes implemented in April 2017. As such, is there now a worry - and an opportunity - emerging from the small print in the Budget that we should all be aware of And, as an industry, should we not now be act...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Group Protection

Group risk pays out £2.69bn in 2025: GRiD

Group risk pays out £2.69bn in 2025: GRiD

£7.36m per day

Cameron Roberts
clock 16 June 2026 • 2 min read
Employers urged to help fight cancer misinformation

Employers urged to help fight cancer misinformation

“Employers can help shift cancer care from reactive to preventative”

Vanessa Sallows
clock 10 June 2026 • 5 min read
Bupa adds benefits to SME health insurance offering

Bupa adds benefits to SME health insurance offering

Includes GP services

Jaskeet Briah
clock 28 May 2026 • 1 min read