The dependants of employees with group life benefits have been paid benefits valued at a total of almost £57m as a result of COVID-19 so far this year.
Trade body GRiD (Group Risk Development) said that 475 lump sum death benefit claims this year, plus the capitalised value of seven dependants’ pension claims where COVID-19 has been recorded as the primary or secondary cause of death on the death certificate or reported on the claim form.
The average lump sum death benefit payment was £110,285 and the average capitalised value of the dependants’ pensions was £617,771.
GRiD spokesperson Katharine Moxham, said the figures demonstrate “exactly what our industry is here for”.
She said: “Group life is one of the unsung heroes of the employee benefits world, that is, until it’s needed. Being supported in such a practical and tangible way, during one of the biggest challenges we’ve faced as a nation, will have been a great comfort to these families.”