Critical illness insurance
What is Critical illness insurance?
Critical illness insurance is a type of insurance policy where an employee will receive a tax-free lump sum of money if they become critically unwell and are unable to work.
Critical illness cover is there to minimise the financial impact of being diagnosed with or undergoing surgery for a critical illness.
A critical illness is an extremely serious, typically long-term conditions such as heart attacks, strokes, the loss of a limb, or diseases like cancer.
Why should you offer critical illness insurance?
No one wants to think about what happens if they become critically ill, but offering critical illness insurance signals how much you value your employees. Here's how it can help your team...
Benefits to employees:
- Employees will be given a tax-free lump sum to support them financially. This can be used to pay for treatment, their mortgage or rent, or to make necessary changes to their home, such as wheelchair access.
- Peace of mind that they'll be able to support themselves financially if they become critically unwell.
- Can claim on any sickness that inhibits their ability to work.
Benefits to you:
- This benefit will play a key role in attracting and retaining talent — especially as NHS resources continue to be stretched.
Why offer critical illness insurance through Ben?
Ben makes offering critical illness insurance super easy. You'll work with a benefits consultant to help you determine if this is the right benefit for you and how it will fit in with your overall package. From there we'll help you find a provider at a preferred price through our global broker network.
Our onboarding team ensures all employees are set up properly, and with ongoing self serve enrolment, as well as automated provider communications. All admin work is taken care of for you, including if you offer various levels of coverage or dependent enrolment.
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