Legal & General launches group life master trust

Legal and General has introduced a master trust option for its group life assurance product.

The option is aimed at helping to save on cost and time for employers and their advisors. The trust enables employers to set up and offer group life assurance as a benefit for staff, without needing to set up their own scheme and register with HM Revenue and Customs.

Employers that use the master trust have access to Legal and General’s online quote and buy system.

They will also have their own policy, pricing, and terms and conditions.

Jim Islam, executive managing director of corporate business at Legal and General, said: “Employers want to be able to provide great workplace benefits, and this new addition to our suite of employee benefits will help more employers to look after their staff and their families in a practical, supportive way.”