Protecting your employees and their loved ones against the financial impact of a serious illness or accident
Protecting Your Employees
Employee protection plans provide lump sum payments or ongoing financial support in the event of long-term sickness absence, the diagnosis of a critical illness or the loss of life. Today’s employee protection plans can offer much more than just financial protection though, they can also support employees with their everyday emotional and physical wellbeing.
The employee protection market has seen a wave of innovation in recent years, with providers bringing new concepts to market that dramatically increase the value of protection plans. Many employers and employees will be unaware of the range of digital healthcare support services embedded within their protection schemes at no added cost to them.
Many protection insurers incorporate fast access to digital GP video consultations which has become an essential support service for employees, and a vital absence management tool for employers.
Most protection plans will also include an Employee Assistance Programme (EAP) which can offer a vital lifeline to employees needing practical and emotional support for everyday issues such as stress, family concerns, relationships, and personal crises.
We can help employers understand not just the full range of healthcare support services within their scheme, but also how to communicate these to employees in a way that maximises usage, employee engagement and return on investment.
Your employee protection plans, if carefully selected and clearly communicated can be the foundation for a comprehensive employee wellbeing strategy.
Independent Advice for Employee Protection
We are experts in helping clients implement employee protection plans that support employees and their families
Group Life Insurance
Life cover is the most common employee protection product, with benefit being paid in the event of the death of an employee while employed by the company. The benefit is paid as a lump sum calculated as a multiple of the employees’ annual salary.
Group Critical Illness
Critical illness plans pay out a tax-free financial lump sum upon diagnosis of a defined list of medical conditions. The benefit paid to the employee can be used for any purpose, such as mortgage payments, funding private medical treatment, or funding adjustments to the family home to reflect personal care needs.
Group Income Protection
Income protection cover provides a means of protecting employees against the financial consequences of being unable to work for an extended period due to illness or injury, by paying a monthly benefit once an employee has been off work for a specified period.