Setting up a policy

Setting up a policy

Terms must be agreed with us before cover starts. We need a completed ‘on risk instruction form’ including any information requested in your quotation.

Within 30 days from the date the cover starts, we’ll also require:

• a completed proposal form;
• a deposit premium or a completed direct debit mandate;
• membership data as at the cover start date, including details of previous underwriting decisions;
• details of long term absentees (that is those who have been absent from work for 90 days or more);
• full business address and postcode information for all scheme members to be covered. We must be able to calculate the sum insured at each postcode.

By pro-actively managing the scheme implementation process from the initial request through to on-risk and final account, we can help ensure a smooth transition in which nothing is missed or overlooked.

Setting up a trust

A discretionary trust will need to be set up before a Group Life policy is taken out.