Protection Advisers
Group Policies
Being unable to work due to illness, injury, or death can have a significant financial impact on employees and their families
With wellness being such an important part of a companies' offering these days, group policies are a must
Group protection policies can include life cover, income protection, and critical illness cover, and are often arranged as part of an employee benefits package.
The aim of group protection is to help protect employees and their families financially, while also supporting businesses by helping staff return to work when they are well enough to do so.
Why Offer Group Protection?
The benefit of offering employees protection as part of your benefits package is huge, not just for your employees but for your business too
In the UK:
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Long-term sickness absence has a significant impact on productivity and business costs
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Supporting employee wellbeing improves employee retention and engagement
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It can provide financial support for employees when SSP is not enough
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It can help your business demonstrate a strong commitment to employee welfare
Types of Cover Available
Life Insurance
This protects your employees families in the event of their death while under your employment.
It provides a lump sum, tax free payment to your their beneficiaries to limit any negative financial exposure.
Income Protection
Income protection provides a regular monthly income if an employee is unable to work due to illness or injury. This can help replace a portion of lost earnings and support financial stability during recovery.
Critical Illness
Critical illness cover provides a lump sum payment if an employee is diagnosed with a specified serious illness during their time of employment. This can help with treatment costs, mortgage payments, or taking time away from work to recover.
Health Insurance
Health Insurance is an increasingly popular option for companies to offer your employees.
This offers convenient options for online GP services and much faster referral processes.
It's a great way to keep your teams fighting fit
What will this cost?
Policy costs vary, but you'll be surprised at how reasonable the pricing is, for these policies the risk is spread across all employees included in the policy and so the premiums tend to be lower per person.