We are looking for a Group DIS provider who has no minimum criteria, for a small company.
Those we've found so far require a certain level of premium or numbers of staff.
@arongunningham Canada Life through the CLASS system is usually the best for smaller schemes, with most other providers not wanting to get involved anymore due to it not being commercially viable.
If they're too small for that then perhaps even consider individual relevant life plans?
@Jamie_Barnes yeah that's what I think we might have to do. Canada Life is the one we thought to check and their min premium is double the quote. Thank you!
I asked our resident expert and he's replied with the following:
• Class & Simply Class can be done from 2 lives upwards, with a minimum annual premium of £480 – generally best for small, straight forward schemes – 2-10 lives. Cannot include Dividends only basic salary
• Normal Class – from 5 lives
• L&G – minimum 10 lives
• Unum – fairly sure they quote from 3 lives
• Aviva – think it is 5, maybe 10
All the above will provide on line quotes (apart from Normal Class) as long as it is within certain parameters, in terms of Ltd Co, min number in a category, occupations etc. Various declarations have to be signed before you are allowed to obtain quote.
MetLife will quote from 3 upwards – but all manual & referred to Underwriters – however the good thing about this is you can put more involved cases to them, although it takes longer
Hope this is of some help
@Suse1969 thank you - very helpful