Canada Life has added excepted group life policies to its CLASS (Canada Life Automated Self Service) administration.
The platform, which currently administers 12 per cent of the UK employee group protection market, will include excepted policies from today.
Organisations can also establish and use their own excepted trust if they prefer.
The move follows the launch in April of WeCare, a range of health and wellbeing support services to all CLASS clients, their employees and family members. WeCare includes unlimited access to these remote services available 24/7, at no additional cost. Services include online GP consultations, second medical opinions, fitness, diet and mental health services. WeCare will now be available to both registered and excepted scheme employees and their families, whether insured or not.
Canada Life strategic proposition director, group insurance Paul Avis says: “The growth in popularity of excepted policies has been astonishing. In the last five years the number of people covered by an Excepted policy has more than tripled from under 500,000 in 2015 to over 1,500,000 in 2020. In that time 5,000 Excepted employer policies have also doubled to number over 11,000.
“We expect this popularity to continue growing and we know that benefits advisers want to manage all group risk products on a single platform. Therefore I’m really excited that we can now cater for this need as an integrated feature of our industry-leading group protection platform.”