Group Life Assurance (GLA)

Group Life Assurance (GLA): This policy covers deaths by any means and

operates on 24 hours, worldwide basis.  Benefits under the policy are payable to the dependants of the employee at death of the life assured. 

The Pension Reform Act 2004, Section 9 (3) requires all employers with five (5) or more employees to maintain a life assurance policy for the employees for a minimum of at least 3 times (3ce) the annual total emolument of each employee.

 It is an offence under Section 85 of the Act, not to do so.