BBC Life Assurance (CAN CF)

The BBC went to market for a Life Assurance Policy for c9,000 BBC employees who joined the BBC on or after 1 December 2010. Employees who joined the BBC before 1 December 2010 are covered under a separate arrangement and were not included in this exercise. All employees are covered for a minimum lump sum of two times life cover pensionable salary. Employees who elect to join the BBC's defined contribution plan called LifePlan are covered for four times life cover pensionable salary. Around 4,000 employees are currently members of LifePlan and covered for the higher lump sum. The contract value is within the £600,000 - £1,500,000 advertised in the contract notice.