Group Risk - Life & Income Protection

Group risk benefits are the backbone of your staff benefits package. A company benefits package protects and insures employees in the event of long term illness or death. Employers who are able to financially support their staff through difficult times will be more capable of attracting and retaining staff and allow you to promote a healthy lifestyle amongst your workforce. Group Protection allows you to manage long term sickness and with rehabilitation benefits available, your staff will return to the workplace sooner.

Why Group Risk?

Without a sickness package a contracted employee would be entitled to statutory sick pay after consecutive days. If the employees earnings are at least £102 a week (2011-2012) they will be entitled to the standard rate of statutory sick pay at only £81.60 a week.

This minimal amount would not be sufficient enough income for many families to survive on solely for any length of time and could place a family in serious financial difficulty.

Types of Group Protection Plans?

Death In Service – A Group life assurance scheme enables employers to provide a tax free lump sum benefit to the employees nominated beneficiaries should they pass away whilst being employed.

Group Income Protection – A Group income protection policy usually pays a proportion of an employee’s salary if they are unable to work due to sickness or incapacity for a period of time. Group income protection can provide peace of mind to both employer and employee during what is usually a difficult time. We can tailor make a solution to meet your requirements.

Group Critical Illness – A Group Critical Illness scheme will provide your employee with a tax free lump sum should they duffer a with a specified critical illness. This lump sum can be used by the employee in what would be a very difficult time to enable them to make adjustments to their home and lifestyle and to provide funds to access specialist treatment.  

Bespoke Employee Benefit Protection Plans – Here at the Private Healthcare company we have the relationships with specialist insurance companies allowing us to design bespoke tailor-made employee benefits solutions regardless of your companies function or size to match your budget requirements.

Employee benefits schemes help ensure employee retention, maintain productivity and offer peace of mind to both employee and employer should an employee be unable to work due to accident, sickness or incapacity.

At the Private Healthcare Company we can help you arrange a tailor made benefits package that meets your needs and the needs of your staff members.

To discuss any of these areas further please contact us on 01242 588903 or complete our enquiry form.