A Group Critical Illness Plan provides an organisation’s employees with a tax free lump sum, in the event of a insured employee suffering one of a number of specified serious medical conditions. Benefits can be defined in terms of a fixed monetary amount per member, or as a multiple of salary.
Advances in medical science, mean that people are living longer, and if serious illness strikes they are surviving too.
In an increasingly competitive business world, it can be a valuable addition to an employee benefits package, which is useful in attracting and retaining loyal employees.
Employers can tailor the benefits to suit their company and their budget. The scheme can either be funded by the employer, or employees can be given the opportunity to become voluntary members, or a mixture of both.
Insurers provide cover for major medical conditions such as Alzheimer’s disease, Cancer, Coronary Artery Bypass Surgery, Creutzfeldt-Jakob (CJD), Heart Attack, Hodgkins Disease, Kidney Failure, Major Organ Transplant, Motor Neurone Disease, Multiple Sclerosis, Parkinson’s Disease, Pre-senile Dementia and Stroke.
Additional cover can be provided to include a wide range of serious medical conditions, including cover in the event of Permanent Total Disability.
Benefits for your Company:
- Provide financial assistance to a valued workforce at a reasonable cost.
- Foster good employer-employee relations.
- Contributions are treated as a low-cost, tax deductible business expense.
- Advice and support available in managing long- term absence and rehabilitation.
Benefits for your employees:
- Reassurance of a capital lump sum payment if serious illness should strike.
- Protection against the most commonly suffered critical illness( Cancer, Stroke, Heart Attack and kidney Failure)
- Help and support during rehabilitation.
- Cash to help clear debts or cover household bills.