The UK's first insurance policy site is now available for SMEs and startups

The UK’s first price comparison site for Group Life insurance, has been launched called ProtectMyPeople and is aimed at small and medium-sized businesses.

This insurance policy is taken out by the employer, which will help if the worst is to happen, and provides a lump sum to the families of an employee who has died whilst they are employed by that business.

Mike Preston, business development director of theidol.com, said: “ProtectMyPeople is the first online price comparison service in the employee benefits market and we believe it will make obtaining group life insurance more accessible and efficient for [these] business owners.

“We are working with [those] who may have never previously thought about the advantages of providing group life insurance for their employees, or felt it too complicated or too expensive to offer.

“ProtectMyPeople makes it easy for business owners and HR teams to compare and buy group life cover to help protect the families and loved ones of their staff.”

This service provides quotes from various life insurance companies, and is designed to save time and money which allows business owners to easily compare policies and options for their workforce.

It was established in 2017, and provides small to medium-sized enterprises with information and comparison with the ability to purchase policies directly. It is also said to be significantly cheaper cover than if employees purchase insurance separately.

Preston continued: “We know that business insurance needs to be simple, easy to understand and buy, and be cost-effective. ProtectMyPeople is simple to use and only requires one form to be filled in alongside the details of employees [who] want to be covered.

“Group Life cover goes a small way to offsetting the impact for the families and loved ones of those affected.”