WHAT IS GROUP CRITICAL ILLNESS?
Group Critical Illness insurance schemes are designed to provide employees with a lump sum if diagnosed with a critical illness. The money can be spent on anything they need, used to help aid their recovery through private health treatment or even making necessary adaptations to their home.
WHY SHOULD I PROVIDE GROUP CRITICAL ILLNESS TO MY EMPLOYEES?
This scheme provides financial security for employees and reduces stress and worry at a very low cost to you.
Group Critical Illness is one of the most highly valued benefits, and by offering it to your employees, your business can attract and retain top talent.
The policy is simple to administer as once set up, employers only need to provide routine membership data to the insurer a few times a year at most.
HOW DOES GROUP CRITICAL ILLNESS WORK?
Many policies vary, so attention should be given to the cover provided and policy condition definitions that are defined within a policy schedule.
Usually, the cover is limited to a maximum of £500,000 per employee and a maximum of 5 times their salary. Conditions covered will vary depending on insurer used, but many policies cover major conditions such as cancer, heart attack, stroke or major organ transplant. As well as this, spouses, partners and children up to the age of 18 (or 21 in full-time education) can be covered.
Some Group Critical Illness insurance schemes include value-added services such as counselling support and helplines.
Here at Busy Bees Benefits, we provide a variety of benefits to help employers reward their employees, keeping them motivated and feeling valued. Today, more companies are investing in employee protection in order to protect their workforce and business. This is where we can help. If you are interested in registering for our Group Critical Illness scheme, talk to a member of our team today on 0330 333 9100 or email us on firstname.lastname@example.org.