Selecting the right Group Risk programme will not only help your company reduce absence and staff turnover, but increase productivity and morale. Do you measure the cost of sickness absence and would it help if you could get your key employees back to work at the earliest opportunity?
Risk and healthcare benefits such as:
- group life insurance,
- income protection,
- critical illness,
- private medical insurance
are popular employee benefits and help you protect your company’s greatest assets, its employees.
Group Death in Service life cover is the most common employer-sponsored benefit in the UK. For many low to middle-income people, it is their only life insurance provision.
Examining the solution
Premier can provide cover from as few as 3 Directors/employees upwards. We have access to generous Free Cover Levels – this means we can offer cover to a certain sum for you and your staff with no medical questions
Benefits can be paid either as a lump sum for the surviving beneficiaries, or as an ongoing income for spouses and other dependents
It is especially important to ensure the best tax treatment for any such policy. Premier will ensure that all options are examined to minimize any tax liability on claim.
Group Income Protection / Sick Pay Insurance
Short term absentees can be a problem for all businesses. The use of a “Sick Pay Insurance” can really help businesses deal with the financial impact of such events – ask us for more details!
Unfortunately, when employees are off work for long periods, due to long term disability, the effects can be far reaching for their workplace.
Employees do not want to worry about their finances when recovering from illness or injury. Yet there remains a need to make sure an employer’s business is running smoothly and costs are doubling to pay an absent employee and their replacement. Group Income Protection can overcome both of these problems.
Group Income Protection schemes are designed to provide practical rehabilitation services and financial support to the employer should an employee be absent for a long term.
There are various options to an Employer when designing an income protection scheme. We can help you tailor the policy that best meets your objective taking account of your budget and type of workforce.
Group Critical Illness
Employees suffering a critical illness can hit a workforce and the organisation really hard.
To help, Critical Illness cover provides a tax-free lump sum benefit if an employee (can cover spouses or children) if diagnosed with one of the defined medical conditions or undergoes surgery for specified procedures.
The lump sum benefit can be used however an employee wants, for example to:
- Fund private health treatment or make adaptations to their home
- Take a well-deserved holiday once their treatment is finished
Group Private Medical Insurance
Private Medical Insurance (PMI) is one of the most important tools for reducing employee absenteeism and improving recruitment and retention.
A group health policy will allow your employees access immediate diagnosis and treatment and avoid delays. Treatment can take place at a choice of the employee and a time that suits rather than have to wait for the NHS.
It brings you the confidence of knowing that if your employees fall ill or are injured, they can access eligible medical treatment at a convenient time and place. This helps them return to work sooner, minimising the cost to your business. Your employees will also feel secure in the knowledge that they can access suitable private sector treatment, should their health take a turn for the worse.