Group Critical Illness

Group critical illness insurance provides a one-off cash payment to employees when they have been diagnosed with a serious illness. The focus is on the financial needs of employees who can use the lump sum towards any expense for example nursing care, clearing existing finance commitments or medical treatment costs. So at least money worries can be reduced which may help with the best chance of recovery and a return to work.

Cover is typically for seven of the most commonly suffered critical illnesses, cancer, coronary bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke.

Alpha Healthcare will help design the scheme that best suits your company. Benefits can be a multiple of salary or a fixed amount. Cover can be extended for additional illnesses beyond the “core”. Family cover can be included and eligibility conditions varied.

Insurers offer “free cover” limits which means that only employees whose benefits exceed the limit will need to be medically underwritten.

Premiums are usually allowable as a business expense enjoying corporation tax relief.

Employer advantages

• Flexibility of scheme design to suit budget
• Helps demonstrate level of care
• Can improve staff recruitment and retention
• Premiums normally allowable as business expense

Employee advantages

• Money worries reduced or removed
• Choice of how money is spent
• Help for the best opportunity for recovery