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Products
Group Critical Illness
What is Group Critical Illness Cover?
Group Critical Illness Cover pays a tax-free lump sum directly to your employee should they suffer any of a list of defined medical conditions or surgical procedures, classified as critical illness events and survive for 14 days or 6 months in the event of Permanent Total Disability.
The lump sum can be used by the employee to help ease some of the financial problems that will inevitably occur, such as maintaining mortgage payments, making adjustments to the home and accessing treatment, often helping them to return to work sooner.
Product Features
Normally based on a multiple of annual salary (commonly x 2 annual salary), companies often protect their senior executives and managers against the financial consequences of serious illness such as heart attack, cancer, stroke etc.
Benefits for employers
- We search the entire market to find the right cover at the right price
- We take care of the ongoing communication and administration
- Your reputation as an employer is enhanced
- You can attract and retain the best employees
- Employees are helped get back to work quickly
Benefits for employees
- Reassurance of a lump sum payment if serious illness should strike
- Cover for the most commonly suffered critical illnesses
- Financial help and support during rehabilitation
- No income tax on premiums and in most circumstances, no inheritance tax on benefits
The above information regarding taxation is based upon our understanding of current legislation which, of course, is liable to change in the future and would depend upon an individual’s financial circumstances.
We match the right product solution with your business needs
If you would like further information on Group Private Medical inusrance products available to you, please contact the Willis Financial Services team on 028 9032 9042 or complete our enquiry form.