BS
You may be paying for the old fogeys now but you will be one some day and just watch your premiums rocket as you get older.
In our scheme the LOL insurance is taxed as a benefit in kind so it is classed as taxed income. The company council has tried to remove this as it is the company insuring itself, as explained by Notreally, but Brown's Tax Mafia won't budge at the moment.
HF