Group Critical Illness
What is Group Critical Illness cover?
Medical advances mean that many previously fatal illnesses are now curable. Your employees are therefore more likely to suffer from a serious illness than a terminal condition. In fact, statistics show that one in four people will suffer from a critical illness between the ages of 30 and 60.
Group critical illness cover will provide a lump sum payment to allow your employee and their family to solve some of the financial problems that may occur as a result of a critical illness or surgical procedure – including adjustments to the home, paying off the mortgage or the cost of medical expenses, for example.
The lump sum is tax-free and is payable providing the employee survives for a defined period following the critical illness event.
How does critical illness cover help you and your business?
- Helps minimise the pressure on your business when providing financial support for seriously ill employees
- Contributes towards the cost of medical treatment in circumstances where other benefit options, such as private medical insurance, may not be available to an employee
- This in turn can sometimes help to reduce periods of sickness absence and aid a return to work
Contact us for more information or to arrange for an advisor to visit you.