Protection

Your employees are your biggest asset and caring about their financial wellbeing can help increase employee engagement

A highly valued benefit

Group protection benefits provide financial protection for employees and their families. They are highly valued yet are relatively inexpensive for employers compared with some other components of the typical benefits package.

Provided in isolation or as part of a wider benefits package, employer sponsored products can give employees access to insured protection cover either at a reduced rate or free of charge as they are covered under one “group” policy.

Group protection schemes can be tailored to suit most budgets and requirements. As a specialist health and risk intermediary our consultants will develop the most appropriate group protection programme for you and your employees. From group income protection, critical illness, life insurance and key man cover, we can help.

We will ensure you have access to the products that suit you best, at a price that matches your budget and tailored to your specific requirements.

Income protection

Group income protection provides a continuing income for employees if illness or injury prevents them from working for a prolonged period of time, and can be used by an employer to cover a contractual promise of long-term sick pay to employees.

Ensuring that staff can continue to pay their bills can help to alleviate some of the stress that goes hand in hand with long-term sickness and help your business manage its sickness absence costs.

Features 

  • Pays a proportion of an employee's salary if they are off work with long-term sickness or injury
  • Premiums are normally an allowable business expense for corporation tax purposes
  • Benefit payments are usually processed through PAYE and taxed as earned income
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Critical illness

Group critical illness pays a tax-free lump sum to an employee on the diagnosis of one of a wide range of potentially life threatening conditions including heart attack, cancer and stroke.

Group critical illness can help reassure staff that they will receive a lump sum payment to help them with any financial problems that could develop if they contract a serious illness. This could help to pay medical expenses, pay off the mortgage or pay for adjustments to the home.

Features

  • Pays a tax-free lump sum
  • Premiums are normally an allowable business expense for corporation tax purposes
  • Treated as a benefit in kind for employee’s tax purposes
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Life insurance

Group life cover is the most common employer sponsored benefit and can often represent the only life insurance provision for low to middle income individuals.

Group life cover can provide peace of mind to your employees that should they die, their families and dependants will receive a tax free lump sum to help them cover their financial commitments.

Features

  • A tax free lump sum to the employee's dependants
  • Premiums are normally an allowable business expense for corporation tax purposes
  • Premiums paid are not treated as a taxable benefit
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