Group Critical Illness

With people in the UK now living longer healthier lives the fact is that contracting a critical illness still remains.

Is it worth having critical illness cover?

Here are some facts:

One in three people in the UK will contract cancer at some stage and more than 1 million people suffer from it at any one time. Among newly-diagnosed 20 to 40-year-olds with cancer, more than 50 per cent of men and 65 per cent of women will be alive five years later.

More than 260,000 people suffer a heart attack every year. More than 50 per cent of victims are still alive 10 years later, according to the British Heart Foundation.

One woman in four and one man in five will suffer a stroke at some stage in their lives, yet nearly 70 per cent of victims survive for at least 12 months, according to the Chest Heart Stroke Association.

What would happen if one of your staff were struck by a devastating illness that could kill them but not for years? An illness such as cancer, multiple sclerosis or a heart attack, which many people increasingly survive?

For many people, a serious illness like the ones quoted above would cause serious financial problems and they may need financial help in making home adjustments or help in being looked after by a carer. A Group Critical Illness policy can help with the problems which can arise after contracting a critical illness.

Group Critical Illness is designed to pay out a lump sum payment to the insured member which can be between one and five times a members salary as long as the member has survived the required time period. The benefit amount can vary from insurer to insurer. Many insurers in the market place can also cover the members family for a small additional cost.

For employees, Group Critical Illness Insurance provides the following benefits:

• Financial security when they face a critical illness and to help when not being able to work the future

• Ability to fund necessary adaptations to the home such as wheelchair access or a chairlift.

• Ability to pay for private medical treatment to help a return to work which would be quicker than relying on the NHS.

• Compensation for damaged career prospects.

For employers, Group Critical Illness Insurance provides the following benefits:

• Provides part of an attractive benefits package helping to recruit and retain staff.

• Mitigate cost of any ex-gratia payments an employer might wish to make to a severely ill, long standing employee.

• Relieves the pressure of having to make awkward decisions about financial support for a seriously ill employee

Please telephone 0845 30 50 222