William Russell, a specialist in international health insurance, has announced significant enhancements to its group life insurance offering. The updates include more comprehensive coverage and the introduction of new optional benefits, such as critical illness coverage for both adults and children.
This move is designed to meet the growing demand from international companies that are looking to improve their employee benefits packages for their globally mobile workforces. The goal is to provide businesses with the tools to attract and retain top talent, offering enhanced geographical flexibility and providing employees with financial security.
The new international group life insurance policy offers several features, including:
- Coverage up to US$2 million per employee, or 10 times an employee’s salary, payable as a lump sum.
- Early payouts for employees diagnosed with a terminal illness, providing them with funds to use as they wish.
Designed for organizations of all sizes, the enhanced plan includes key improvements:
- An increase in the maximum annual life benefit from 5x salary to 10x salary.
- Favorable automatic acceptance limits without medical underwriting.
- Coverage available until age 75 for those who enroll before age 61.
- Larger group discounts and more competitive pricing for bigger teams.
Employers can also customize the plan by adding coverage for these optional benefits:
- Accidental death and permanent disablement
- Adult critical illness
- Child critical illness
- Funeral costs and repatriation benefit
Teressa Wighton, Commercial Director at William Russell, commented on the launch: “Navigating life insurance options can be complex, especially for international corporate clients. At William Russell, we understand the need for flexible, global solutions, and are committed to innovation in international life and protection. We are excited to introduce these new enhancements designed to simplify coverage, help businesses attract and retain top talent, and provide greater financial security for employees worldwide. As the modern workforce becomes increasingly mobile and flexible, we continue to listen to our broker partners and analyze the market to adapt our life and income protection offerings.”
