Canada Life raise free cover level

Canada Life Group Insurance has increased its free cover level (FCL) maximum to £1.25m assured per member for all schemes of more than 63 lives. 

The previous maximum was £1m, with an FCL formula of £15,000 times the number of lives. 

All schemes with an annual revision date on or after 1 January 2009 will benefit from the new FCL formula of £20,000 times the number of lives assured. 

The changes remove the need for medical underwriting for some members.