Company Life & Health Insurance

Group or Company Life Insurance

Group Life Insurance provides essential financial protection to the family or nominated beneficiaries of the employee in the event of an employee’s death whilst in service.  An employer can choose varying levels of cover for different categories of employees, either a multiple of salary or a fixed amount per employee.  Employers normally pay all of the premiums and the cost is usually treated for tax purposes as a trading expense.  Premiums are not normally treated as a benefit in kind for employees.

Business Protection Insurance

Most companies understand the need to protect their premises, contents and vehicles.  However, many overlook the protection of their key asset – people.  The fact is, without certain key people, many businesses could suffer serious financial loss or cease trading altogether.  Business Protection is designed to safeguard businesses against the effects of losing key people through critical illness or death.  There are three protection options:

  • Key Person
  • Share Protection/Partnership Protection
  • Business Loan Protection

Group or Company Health Insurance

Long term sickness absence costs British business £5.3 billion a year and accounts for a massive 40% of working days lost.  By having in place Group Health Insurance, you could reduce the impact on your business due to employees having access to an insurance that pays out to an employee a regular income whilst off ill or following an accident.

Private Medical Insurance

Premiums are paid by the employer, with employees declaring this as a benefit in kind.  There are substantial discounts for group policies.  The ability to ensure a key employee or member of their family is treated without delay can save a company substantial amounts of time and money.