Intermediaries using CLASS will now be able to offer employers the option to cover employee’s National Insurance and pension scheme contributions, in addition to their standard income protection payment, in the event that they are unable to work.
Canada Life has also extended the number of benefit categories available across all three products on CLASS: group critical illness, group income protection and group life. Previously, only two different categories of benefit were available via CLASS. Following the enhancements, users will now be able to design up to eight different benefit categories on each product – offering clients the flexibility to choose different benefit levels according to different employee benefit entitlements. In addition all three products now allow up to five salary definitions compared to only one previous option of ‘basic annual salary’.
Eligibility options within CLASS have also been expanded so that all three group risk products via CLASS will now offer an option for pension scheme eligibility. Canada Life says this allows intermediaries to link their clients group risk benefits to those members already in a pension scheme. This enhancement was made in response to feedback from intermediaries who had clients that wanted to link their group risk benefits with pension scheme membership.
Daniel Stewart, CLASS business development manager, says: “CLASS is proving to be an excellent tool for intermediaries and we have been working closely with them to ensure that we deliver the best performance and service for their needs. We are delighted to be able to announce these enhancements, which will work to provide better flexibility and more choice for our users and therefore, their clients.”
