Healthwise has employed some of the best people in the industry to support clients on a range of Employee Benefits needs. We look after and support Blue Chip companies all over the country as well as small family run businesses, however irrespective of size we provide just one level of advice and service and that is first class.
Group Income Protection
A must for companies to ensure staff feel wanted and are looked after financially when they are not so well, as well as protecting the interests of the business. Group Income Protection is a policy which provides the employee with a monthly income if they are unable to work due to an accident or illness which is likely to be long term.
As an employer you decide when you want payments to start otherwise known as deferred periods and vary from 4 weeks absence up to 104 weeks. The selected period usually coincides with the Employers Sick Pay arrangements; this would in essence mean that the income payments would start as the employer payment finished. As a guide the longer you pay staff when they are off work (deferred period) the lower the premium will be.
Aside from the deferred period the whole benefit structure is flexible and will be structured to meet your specific needs.
Group Critical Illness
Critical Illness cover is a policy designed to pay out on life changing illness and helps staff cope with any lifestyle changes as a result. The policy pays out a lump sum if you are diagnosed with a specific illness as set out in the terms of the policy.
Critical Illness varies between insurers and Healthwise will guide you accordingly. If an employee is diagnosed with one of the conditions specified in the policy the insurer will pay out a tax free lump sum which they can then use to make changes to the home (a stair lift) car adaption or pay off loans or a mortgage.
These are some of the typical illnesses covered by the policy:
- Cancer (most malignant types)
- Brain tumour
- Deafness
- Heart conditions (as defined)
- Kidney failure
- Loss of limbs
- Loss of speech
- Major organ transplant
- Multiple sclerosis
- Stroke
Group Life
This is the most common employee benefit and is a must for discerning employers. Not only is Death in service relatively low in costs it is not classed as a benefit in kind and therefore attracts no tax.
Group Life Cover or Death in Service benefit is where on the event of an employee's death their spouse or beneficiaries will receive a lump sum or pension. The policy gives peace of mind that any financial dependants will be look after once they have gone.
Premiums are usually based upon a multiple of the employee’s salary, so the more the employee earns and the higher the multiples you choose; the more that is paid out in the event of a death.
> Contact us to discuss your needs further