A competitive employee benefits package can not only assist with top-level recruitment but help you to retain your most talented staff.

It can provide your employees and their families with cover and protection should they fall ill or pass away.

Group life insurance

Group life insurance can pay a tax-free lump sum and/or an ongoing income to the loved ones of an employee who passes away, while they are covered by the policy. It ensures that your employee’s dependents have a means of financial protection should the worst happen, providing a cost-effective but valuable employee benefit. Find out more.

Group critical illness cover

Group critical illness cover pays out a lump sum if an employee is diagnosed with a specified critical illness or condition while covered by the policy. Illnesses and conditions covered by a policy will vary depending on the provider. Find out more.

Group income protection

While group critical illness cover pays out a lump sum, group income protection provides employees with an income if they’re unable to work on a long-term basis, as the result of an illness or injury. Find out more.

Relevant life

Relevant life is a term assurance plan that allows employers to provide an individual death in service benefit for an employee. It is paid for by the employer and designed to pay out a lump sum to the employee’s family and dependants if he/she dies whilst employed during the length of the policy. It will also pay out if the employee is diagnosed with a terminal illness whilst employed. As a relevant life plan is designed to be written in a discretionary trust, it provides a tax-efficient benefit for employees.

Private medical insurance

Private medical insurance is a good way of keeping a healthy workforce and provides an attractive employee benefit. Policies will vary depending on provider and as with other employee benefits, an independent financial adviser can assess your needs and search the whole of the market to find the best possible solutions for you, your business and your employees.

If you would like to learn more about the most cost-effective ways of providing your employees with valuable benefits, contact us to speak to an independent financial adviser, who will be able to search the whole of the market to find the best solutions for your business.