Employee Critical Illness

This type of employee benefit provides your employees with a tax-free lump sum if they were to become critically ill.

It will give you and your employees peace of mind if they were to receive a diagnosis for a condition from a defined list of critical illness conditions.  The money can be used however the employee wishes, it could fund treatment privately, make changes to their home if required, pay for care or use it to pay money off their mortgage.  

This can be set up a group scheme on its own or part of your company insurance benefits package.

Why do you need employee critical illness cover?

No matter what size your business is you can offer your employees a company benefit such as employee critical illness cover. There are many benefits to offering company critical illness as part of your staff benefits package.

Group critical illness cover is a desirable benefit and often someone looking to join your company will be looking for a comprehensive benefits package which includes some form of illness cover.

Providing critical illness cover as part of your staff benefits package will also help you retain staff and make them feel valued.

Business of all sizes will feel the impact of an employee suffering a serious or critical illness and will find themselves looking to put this cover in place once the unfortunate event has happened, if this was to happen to any member of your staff, consider how they would be affected.

How many members of staff do you need for a group critical illness scheme?

The minimum number of employees required is usually ten, however there is a provider we work with who will quote from three employees.

What does group critical illness cover?

Most group critical illness policies will cover 10-15 serious illnesses such as cancer, stroke, heart attack – there are options to add additional cover to include up to an additional 30 illnesses and total permanent disability.   A claim will be eligible providing the insured survives 14 days post diagnosis.

How much does it cost?

The cost can vary depending on the level of cover selected, the average age of your employees and the number of employees covered. Here at The Insurance Boutique we use an expert to do an analysis of your needs then conduct a review of the market looking at the various options that fit your requirements and budget, we then make a recommendation and ensure you are fully briefed on the product and the insurer ensuring that you understand exactly what you are buying.

How do you get a quote?

In order to get a quote, we need to gather some initial information and then we appreciate the insurers in the market. Basic information that we need is as follows:

  • Company name

  • Postcode

  • Details of employees – name or unique reference and DOB

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