London, UK -- (SBWIRE) -- 03/01/2021 -- A Group Life Insurance scheme pays out a lump sum if an employee dies while in service. This lump sum is equivalent to a multiple of a worker's earnings. To avoid any inheritance tax implications, businesses place the policy into the trust at the outset. Insurers pay the benefit to that trust before the trust distributes it to the appropriate beneficiaries in the event of a claim. PTL is a leading provider of independent trustee services that set up group life master trusts to help clients manage death-in-service claims. The trust plan is designed for employers who want an efficient alternative to setting up their own life-only trust for administering death-in-service benefits. The expert team at PTL carry out a thorough yet sensitive investigation to determine beneficiaries for death-in-service benefits. Their plan can have a plethora of benefits for employers such as:
- Provide peace of mind to employers
- Determining beneficiaries
- Facilitate the efficient payment of benefits
- Impartiality in reaching decisions
- Act as an easy to reach contact for employers and insurers
- Allow employers to present the trust as part of their employee benefit package
PTL is one of the leading names for providing highly reliable and independent pension trustee services. The company has a team of experienced professionals who combine their knowledge and expertise to provide their customers with high quality services and advisory support. Their services help business owners to mitigate risk and avoid conflicts with their employees. In addition to PTL group life master trusts, the organisation also offers other trusteeships, clear funds, contract-based pensions governance, and professional independent trustee services.
When questioned about their group life master trust, a representative from the company stated, "PTL has a long track record of helping our clients manage their death-in-service claims through the range of group life master trusts we manage. PTL provides a flexible range of services to several large insurers and employers for the settlement of death-in-service claims. As a fully independent party, we can assume the trustees' responsibility for the arrangement, carry out a thorough yet sensitive investigation, determine the correct beneficiaries, and settle the benefits due."
PTL is an award-winning provider of independent trustee and governance services, serving clients across the UK. Their specialist team of professional trustees delivers a pragmatic, personable and professional service to help customers effectively manage their schemes. PTL holds a strong reputation in the market as demonstrated by the testimonials from its clients and industry awards – all underpinned by an energetic, dynamic and outcome focused team committed to delivering.
For more information, please visit: https://ptluk.com
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