Benefits advisers can now get access to Excepted Group Life Insurance policies from Canada Life on the provider’s online platform, CLASS.
The move means that advisers can now quote, buy and manage Excepted Group Life on CLASS, alongside the provider’s Registered Group Life Insurance, Group Income Protection and Group Critical Illness propositions.
A Canada Life spokesman said that employers can use their own excepted trust deed, or they can use its “Excepted Solution”, an excepted trust deed and rules managed by independent trustees.
The spokesman said that with the inclusion of excepted policies on CLASS, advisers can now quote, buy and manage “more protection policies than ever before”.
It also means that every CLASS policy includes Canada Life’s support service WeCare, a 24/7 online GP, mental health support service and get fit programme.
WeCare is available with every Canada Life group protection product and is available to employees and their families, whether they are insured or not.
Paul Avis, Strategic Proposition Director, Group Protection at Canada Life, said that the growth in popularity of excepted policies has been “astonishing”.
He said: “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 1.5 million in 2020.
“In that time, 5,000 excepted employer policies have also doubled to number over 11,000.”
Avis said the provider expects that popularity to continue to grow and understands that most benefits advisers want to manage all group protection products on a single platform.
Avis said: “I’m really excited that we can now cater for this need as an integrated feature of our industry-leading group protection platform.”