Group critical illness cover

/Group Critical Illness Cover
Group Critical Illness Cover 2017-03-08T12:04:24+00:00
  • Most employees will now survive a critical illness, and may return to work.

  • A tax-efficient scheme for employers, a bonus for employees.

  • Demonstrative care for your employees’ health and wellbeing.

  • Get the right products for your company and employees without time-consuming research.

With the dramatic advances in medical science over the last 50 years, most people survive illnesses which would previously have been fatal. These include heart attack, stroke, and cancer.

However, many of them may only be able to return to work in a limited capacity, and may wish to adapt to a different lifestyle with a reduced income.

An employer may decide to take out a Group Critical Illness policy to provide a lump sum benefit to an employee who is either diagnosed with a specific critical illness or undergoes a particular surgical procedure.

The policy pays out once the employee survives for a specific period after diagnosis of the critical illness, or the undergoing of the procedure, usually between 14 and 30 days.

Cover is usually provided, as with Death in Service, as a multiple of the employee’s earnings. The lump sum can vary depending upon the category of employee.

Mosaic Health can advise you as to whether Group Critical Illness Cover is the right policy for your company. If it is, we can guide you through the minefield to help you find the provider and product that are most appropriate for your company.