Tailor-made Employer Sponsored Group Risk Schemes
An employer sponsored Group Risk Scheme is an umbrella term for employee benefit schemes that can include:
- Group Life Insurance (On the death of an employee, their dependents are provided for from a financial perspective)
- Group Income Protection (In the event of a serious injury or illness where they are unable to work for a long period of time, employees are protected from loss of income)
- Group Critical Illness Cover (a lump sum is paid out to an employee who has been diagnosed with one of a defined number of serious illnesses)
Increasingly, employers are including protection as part of a total remuneration package, to attract and retain key staff. It is a very cost effective way of protecting your business’ most important asset – your employees.
The benefits available under a Group Risk Scheme are highly valued by your employees as it provides financial protection for both them and their dependants in the event of long term disability or death.
The added advantage for you as employer is that the cost of providing a Group Risk Scheme is relatively inexpensive compared to the value of the benefits provided.
Policies can include extra benefits such as employee assistance, rehabilitation or back to work support. It is important to understand the details of the policy you are considering and we at Accuro can guide you through all options to ensure you obtain a policy that meets all your particular requirements.