Aon Consulting found more than three quarters (77%) of employees claim they do not receive employer-provided life insurance. Yet 40% of staff in the UK receive this benefit.
Paul White, head of risk benefits at Aon Consulting, said employers should tell staff which benefits they provide to prevent them from paying unnecessarily private cover.
He said: "Employees are re-purchasing the same cover privately at their own expense. As family budgets are becoming more stretched, checking whether life assurance and other benefits are provided by their employer may be one area where three million Britons could make a substantial saving every year."
Staff unaware their employer provides life insurance
More than three million employees do not know their employers already provide them with life insurance.
