News and insights
What does group critical illness insurance cover? A guide for UK companies
Group critical illness insurance provides financial protection for employees diagnosed with serious medical conditions, offering a lump-sum payment to support them financially during difficult times. In this guide, we’ll detail what group critical illness insurance covers, its importance for businesses, and how to effectively incorporate it into your employee benefits package.
Employee dental insurance
This guide dives into the essentials of employee dental insurance, covering what it is, the different cover options available, and its significance for both employers and employees. We'll explore how dental insurance works, from policy costs and tax implications to the process of making claims. Whether you're considering offering dental insurance for the first time or looking to improve existing benefits, this article provides the insights you need to navigate your options.
What is group life assurance?
Group life assurance, sometimes referred to as death in service benefit, will cover employees against their death. If an insured employee passes away and a valid claim is made, a cash lump sum or regular pension payments will be made to their beneficiaries.
What is executive income protection?
Executive income protection protects businesses and their employees against the financial impact of a staff member being unable to work due to illness or injury. When a successful claim is made, the policy will pay a monthly cash amount based on the employee’s salary to the business.
Employee health cash plans: What you need to know
Employee health cash plans are an employee benefit that companies can implement to help their staff cover the cost of everyday healthcare services. Learn more about what they have to offer in our insight.
How Digital Services Have Transformed Primary Care
One of the few silver linings to come out of the pandemic was the accelerated adoption of digital healthcare, particularly for the delivery of primary care services. Now that patients have embraced such technologies and are using them in anger, it’s time for more organisations to offer them as part of the employee benefits they offer, such as private medical insurance.
The Great Resignation: Employees Want Better Benefits
As my colleague Gill Adams recently highlighted, most workers value employee benefits above pay. With the so-called Great Resignation showing few signs of abating, organisations need to ensure they are doing everything in their power to retain their best talent, and that means, among other things, offering the right mix of employee benefits.
New Figures Highlight Important Role Of Life Insurance
New figures have highlighted the important role of life insurance in helping families cope financially in the event of a loved one’s death, as the protection industry witnesses an uptick in claims driven by the Covid-19 pandemic.
Employees Want More Wellbeing-Focused Benefits
Workers want employee benefits that better support their wellbeing, yet a significant proportion of organisations are failing to offer the right mix, particularly when it comes to women’s health. These are two of the main findings from two separate pieces of recent research.
How Employee Benefits Could Plug The Mental Health Support Gap
Most organisations realise that employee mental health should be at the top of their agendas. But many firms have yet to act on their policy commitments. It’s an area where offering the right employee benefits can really make a difference.
Are Your Health And Wellbeing Benefits Flexible Enough?
UK working adults value their health over their careers, according to new research, a reality that should highlight to organisations the potential of Private Medical Insurance (PMI). However, not all employee benefits packages are equal and some are far too inflexible, according to one nursing support services provider.
Supporting Employees Better With Tailored Benefits
Employees need customised support which is tailored to their individual needs and circumstances. That’s one of the main findings to come out of two separate pieces of recent research. For organisations, this reality should act as a wake up call to review the group risk benefits they offer.
Is It Time To Review Your Group Risk Policies?
The Group Risk industry paid out over £2 billion during 2021, a significant increase over 2020 and testimony to the level of help it provides, research shows. Yet many employers are missing out on better deals on the employee benefits they offer as they are simply not taking the time to regularly review them.
How Much Is Poor Financial Wellbeing At Work Costing You?
Poor financial wellbeing at work is costing UK businesses billions of pounds every year, yet half of companies do not currently offer extra financial support to their staff. By not providing such support through employee benefits and value-add services like Employee Assistance Programmes, organisations are literally leaving money on the table.
How Does Private Healthcare Work?
As NHS waiting lists continue to lengthen, more and more people are exploring how private healthcare can complement our treasured health service. But if you’ve never had private healthcare before, figuring out what’s what can be a little daunting. But don’t worry we’ve got you covered and in this short guide on how does private healthcare work, we are going to provide you with everything you need to make an informed and confident decision.
Cost Of Living Crisis: The Role Of Financial Wellbeing In The Workplace
As the UK’s cost of living crisis comes sharply into focus, employers are increasingly needing to support their employees’ financial wellbeing. By offering the right employee benefits and value-add services like Employee Assistance Programmes – which routinely include financial counselling and support services – companies can demonstrate just how much they value their staff.
What Flexible Employee Benefits Do Your Staff Really Want?
What flexible employee benefits do your staff really want? It might seem like a simple question, but research reveals that a significant proportion of employees do not know what benefits are on offer. If that’s the case, how can they assess which ones are right for them?
Financial Stress Impacts Employee Performance – Study
Financial stress can directly impact employee performance, according to one new study. So as the cost of living crisis continues, employers need to ensure they are doing everything they can to support financial wellbeing in the workplace, including offering the right employee benefits and value-add services like Employee Assistance Programmes.
More Flexible Working Benefits Revealed
Flexible working is now a core feature in many workplaces across the UK, reaping benefits for both employees and employers alike. Alongside traditional employee benefits, flexible working has enabled employees to enjoy better work-life balances and employers to benefit from more motivated and productive staff. Now, two separate pieces of research reveal how remote working is affording people higher salaries and how flexible working could help millions secure employment.
Most Workers Value Employee Benefits Above Pay
Two recent pieces of research have highlighted just how much value workers place on the employee benefits they receive through their jobs. The second piece of research, in particular, underlines why organisations need to carefully consider the employee benefits they offer and ensure all staff are getting the same opportunities.
How Does Private Healthcare Work?
As NHS waiting lists continue to lengthen, more and more people are exploring how private healthcare can complement our treasured health service. But if you’ve never had private healthcare before, figuring out what’s what can be a little daunting. But don’t worry we’ve got you covered and in this short guide on how does private healthcare work, we are going to provide you with everything you need to make an informed and confident decision.
Why We Need To Talk About Mental Health In The Workplace
With more and more people facing mental health challenges, providing mental health and wellbeing support as part of the employee benefits you offer is a must nowadays. But unless these benefits are clearly and accurately communicated and the stigma associated with discussing mental health in the workplace is broken, even the best-laid plans can prove ineffective.
More People Choosing Private Healthcare As NHS Waiting Lists Hit Record Highs
An increasing number of Brits are turning to private healthcare for their medical needs as NHS waiting times continue to increase. But for some without private medical insurance, the cost of going private means getting into debt.
PMI Provides Safety Net, Peace Of Mind Amid Growing NHS Waiting Times
With the NHS under considerable pressure because of the COVID-19 pandemic and waiting lists hitting record highs, the case for taking out Private Medical Insurance (PMI), which allows access to private healthcare, is stronger than ever.
The Future Of Health Insurance Post-COVID
The COVID-19 pandemic has caused nothing short of a healthcare revolution. With significantly more emphasis now being placed on the role of 'digital' and health and wellbeing being placed at the top of most organisation’s agendas, the future of health insurance will be decidedly different.
10 Reasons To Consider Private Healthcare In The UK?
With the fantastic services provided by the NHS, not to mention most of which are free, is private healthcare in the UK really necessary? We’re here to give you 10 reasons and some food for thought as to why private healthcare is more than just a financial decision for many.
5 Reasons Why Now Is The Perfect Time To Look Into Private Medical Insurance
The Covid-19 pandemic has caused many individuals to consider their health, their family’s health and mortality in general. It’s a reality that has led many to investigate the benefits of private healthcare in the UK and review whether private medical insurance would be a smart investment for themselves and their family.
How To Manage & Reduce Stress In 2021
Even though 2020 is over and most of us are pinning our hopes on 2021 being a marked improvement, the topic of stress is still never far away as this New Year unfolds. While the UK’s Covid vaccine rollout will inevitably provide reassurance for many, the thought of returning to work and the associated risks remain a concern for Brits, a new study shows.
The Benefits Of Private Medical Insurance In 2021
With 2021 now in full swing and our health firmly at the forefront of our minds, there is no better time to reflect on everything we learnt during the past unprecedented year. With few areas of our lives receiving as much of our attention as health and wellbeing over the past 12 months, this won’t change in 2021. As such it is worth considering the priority and role that health insurance can play in peoples’ lives.
Mental Health: Supporting Each Other Through Times Of Crisis
Back in October, I wrote about how the Covid-19 pandemic is hammering mental health. I also highlighted in that piece how despite the detrimental impact of the current situation, many businesses are responding and supporting their employees as best they can. However, there is no getting away from the fact that Covid-19 is fuelling nothing less than a surge in work-related stress across the globe. Indeed, recently published research from AXA shows exactly what is happening in this regard across
More People Going Private As NHS Waiting Lists Continue To Grow
NHS waiting lists are at their highest level since records began and now concerns are growing that we could end up with a two-tier healthcare system here in the UK, as more people look to the private sector to accommodate their health needs.
Private Medical Insurance: Creating Choice & Reducing The NHS Burden
Individuals who earn above a certain amount should pay for private healthcare to help relieve pressure from the NHS, a leading eye surgeon has said. According to Dr Allon Barsam, co-owner of Ophthalmic Consultants of London in the Harley Street area, the impact of the COVID-19 pandemic on the NHS could be eased with greater private funding, helping the industry as a whole recover from the crisis.
Positive Developments In Group PMI
It is a word that is often overused, but the fallout from the coronavirus pandemic has been ‘unprecedented’. One of the sectors in particular that has experienced a significant amount of upheaval has been the group medical insurance industry.
Employers Increase Health & Wellbeing Offerings During Pandemic
Almost half of employers have increased their focus on employee health and wellbeing as a result of the coronavirus pandemic, new research shows. According to research by Employee Benefits, which surveyed 200 HR decision-makers, 46% of organisations said they have boosted their employee health and wellbeing offerings in light of the COVID-19 outbreak.
Mental Health: Insurance & Support
People with mental health issues have a clear desire to get access to insurance, new research reveals. However, the vast majority of people with poor mental health do not know where to go to get independent advice on how mental health issues can potentially impact an insurance application.
Mental Health: Workplace Wellbeing Initiatives
Research shows that emotional and physical wellbeing are closely linked. Therefore, to stand the greatest chance of having happy, healthy and productive staff, employers need to be taking a holistic approach to employee wellbeing.
Why Employee Wellbeing Is Crucial To Business Success
Even before the coronavirus outbreak occurred, UK productivity was slowing at an alarming rate. Figures from the Office for National Statistics show that productivity in the UK has pretty much flatlined since the 2008 recession. In fact, research from academics at Loughborough University and the University of Sussex shows that the productivity growth slowdown since the 2008 financial crisis is unprecedented in more than two centuries.
What is executive income protection?
Executive income protection protects businesses and their employees against the financial impact of a staff member being unable to work due to illness or injury. When a successful claim is made, the policy will pay a monthly cash amount based on the employee’s salary to the business.
The Benefits Of Protection Products In 2021
The uncertainty and unease caused by the ongoing Covid-19 pandemic has meant that 2020 will go down in history as one of the most unprecedented in living memory. Now, as we enter 2021, health and wellbeing is going to remain high on people’s agendas as they reflect on the events of the past year.
Income Protection: Safeguarding Your Income When The Unexpected Happens
How long could you and your family survive financially if you suddenly became unable to work? Would state benefits be enough to support you? How long would any savings you’ve accumulated last? If your answer to any of those questions was “I don’t know” then Income Protection (IP) might be something you want to find out more about.
Income Protection: More Than Just Insurance
Figures show that income protection (IP) sales are healthy. In fact, according to data released by the Financial Conduct Authority (FCA), IP sales in the first half of 2019 reached their highest level since FCA records began in Q2 of 2005.
What does group critical illness insurance cover? A guide for UK companies
Group critical illness insurance provides financial protection for employees diagnosed with serious medical conditions, offering a lump-sum payment to support them financially during difficult times. In this guide, we’ll detail what group critical illness insurance covers, its importance for businesses, and how to effectively incorporate it into your employee benefits package.
What is group life assurance?
Group life assurance, sometimes referred to as death in service benefit, will cover employees against their death. If an insured employee passes away and a valid claim is made, a cash lump sum or regular pension payments will be made to their beneficiaries.
Is It Time To Review Your Group Risk Policies?
The Group Risk industry paid out over £2 billion during 2021, a significant increase over 2020 and testimony to the level of help it provides, research shows. Yet many employers are missing out on better deals on the employee benefits they offer as they are simply not taking the time to regularly review them.
Income Protection For Small Businesses
For many small business owners, when it comes to protection, the focus is often on the company and not the founder. But such an approach risks leaving the small business owner vulnerable should they become seriously ill or injured. Without them at the helm, how would the business inevitably fare and for how long? That’s why income protection for small businesses is absolutely something that should be considered if the business owner wants to afford total peace of mind.
Group Risk Products Recognised By Government In Employee Health Consultation
Employee benefits packages, which usually include Group Risk benefits, play an important role in helping support employee health and wellbeing. That is one of the conclusions made by the government in response to its 2019 consultation on how to reduce ill-health related job loss.
Group Risk Cover Protection Market Displaying ‘Gender Paradox’
New research reveals the Group Risk market is displaying a ‘gender paradox’, highlighting the need for providers and employers to better facilitate adoption among every gender. According to the Legal & General (L&G) study of over 1,000 UK employees, a gender paradox exists when it comes to group risk protection benefits, with more women than men being aware of the limitations of state health and welfare support. However, fewer women than men actually fully engage with group protection benefits and services.
It Took A Global Pandemic To Highlight The Real Value Of Group Risk Employee Benefits
The Covid-19 pandemic has made most workers consider their financial situations and security, as well as emphasise the importance of Group Risk employee benefits. In fact, Group Risk employee benefits have never been so highly valued (by both employers and employees).
The Benefits Of Group Risk Products In 2021
After months of either being furloughed, working from home or carrying out their jobs in a totally different way, employees from organisations across every sector need to be supported by their employers. As a result, there has never been a more important time for employers to look at their duty of care to their employees as now.
Group Risk: Managing & Preventing Sickness Absence
In July 2019, the UK Government published a consultation paper: Health is everyone’s business: proposals to reduce ill health-related job loss. It outlined, among other things, how the government and employers can take action to reduce ill health-related job loss. In response to the publication of this consultation, the industry body for the group risk sector, GRiD, set up the Workplace Public Policy Committee (WPPC), with the aim of promoting workplace health and wellbeing matters to...
How Group Risk Products Can Be Pivotal During A Pandemic
As if employee benefits needed any more reasons to be at the top of every employer’s agenda, the coronavirus pandemic has firmly underlined their importance once more. Here we take a quick look at how three group risk products can be pivotal during a pandemic, providing reassurance, faster access to healthcare and direct financial support.
Employee Wellbeing & The State Benefits Gap
UK workers overestimate state benefits, yet few companies have any protection in place. Research has shown that workers overestimate how much support they would receive from the government if they found themselves unable to work due to an illness or disability. Yet only a tiny proportion of UK SMEs have suitable protection in place to safeguard their employees financial security. This suggests that both a huge protection gap and enormous opportunity exist.
Third Of Employers Failing To Fully Support Their Long-Term Absent Employees
According to the study by Opinium on behalf of GRiD Group Risk Development (GRiD), the industry body for the group risk protection sector, 31% of employers do not make early intervention services available to help staff who have been absent for six months or more return to work. Almost the same number of employers again (32%) don’t have any financial support in place for staff if they are absent long term.
Group Risk Industry Paid Out Record Amount In Claims In 2019 – GRiD
In 2019, the Group Risk industry paid out a record £1.76bn in claims, new data shows. According to the figures released by Group Risk Development (GRiD), the industry body for the Group Risk protection sector, the total amount of claims paid last year was £75m more than the year before, with cancer claims making up the majority.
Making The Most Of Employee Benefits: Communication Is Key
Communication is vital for employee benefits adoption but many employers are missing the mark. At a time when many people are unable to see their GPs — either because they are scared to attend face-to-face appointments for fear of catching coronavirus, or simply due to a lack of available GP appointments — the role of employee benefits has perhaps never been more important.
‘Lost’ GP Appointments Triggers Need For Virtual GP Services
Enormous drop in GP appointments significantly deteriorating patients’ health. Nearly 27 million GP appointments have been lost since the start of the Covid-19 pandemic, new figures from the NHS show. According to NHS Digital data, there were 26.7 million fewer GP appointments in England between March and August this year than there were during the same period in 2019. This stark reality, Cancer Research UK says, could result in a significant number of additional cancer deaths.
SMEs Lagging Behind Smaller Firms When It Comes To Employee Wellbeing
When it comes to employee wellbeing, SMEs are falling behind smaller companies in the eyes of their employees. That’s one of the key findings to come out of new research by Legal & General (L&G). According to L&G’s latest SME research, more employees working for smaller companies trust their employer to look after them than those working for larger SMEs. This, despite the fact that these larger organisations are more likely to have a health and wellbeing strategy in place.
UK Employers See An Average £7+ ROI For Every £1 Spent On EAPs
Does your organisation currently offer an Employee Assistance Programme, or EAP? If not, what are the reasons? While many businesses won’t have considered offering EAPs because they don’t fully understand the benefits they can afford, others will have overlooked them because of a perceived cost barrier. However, as we have written before, Employee Assistance Programmes are high impact and cost effective. But don’t just take our word for it. New research underlines just how much ROI businesses can get from EAPs.
NHS Staff Uptake Of PMI Highlights How Much Our Health System Is Struggling
As if the NHS wasn’t under enough pressure already, the coronavirus pandemic has exacerbated the situation exponentially. With NHS waiting lists now at their highest levels since records began, it’s clear that there aren’t enough resources in our beloved health system to cope right now. Add to this the fact that Boris Johnson says the current restrictions could last six months and there really is no immediate end in sight.
Majority Of Employers Want To Be Seen As Caring
Employers are increasing their focus on health and wellbeing as a result of the coronavirus pandemic. Interestingly, the same research also highlights how the vast majority of organisations want to be seen as a caring employer when introducing a health benefits programme.
Professional Financial Advice Boosts Emotional Wellbeing
At a time of distinct uncertainty, anything that boosts emotional wellbeing should be welcomed with open arms. That’s why new research into the impact of professional financial advice makes for compelling reading. According to the survey, conducted on behalf of Royal London, professional financial advice helps improve people’s emotional wellbeing by making them feel more confident and financially resilient.
Sandwich Generation Hardest Hit Mentally By Pandemic
UK workers tend to overestimate the amount of support they would receive from the state if they fell ill. And only a tiny proportion of UK SMEs have suitable safeguards, like group income protection, in place. Now, new research reveals how the majority of Brits aged between 45 and 54 are more worried about their financial situation than before the lockdown. It’s a reality that further underlines the importance of the security provided by group risk products.
Why The Cost Of Obesity Could Bankrupt The NHS & Social Care
Weight-related stigmas need to be tackled to save the NHS and social care systems. The cost of obesity in the UK is rising, so much so that it could end up bankrupting the NHS and the country’s social care system. And it’s a “fear of offending people” that is largely to blame, new research suggests.
NHS Sickness Rate Hits Record High
COVID-19 peak results in record high NHS sickness absence. The NHS lost a staggering 2.3 million full-time equivalent days of work from a total of nearly 36.6 million in April 2020, the highest level in a decade. By comparison, the NHS lost 1.4 million full-time equivalent days out of nearly 35 million in the same month last year.
NHS Waiting Lists At Highest Level Since Records Began
Worrying times ahead for people awaiting routine or non-urgent treatment through the NHS. As the coronavirus pandemic continues to run its course, a devastating toll is being taken on the NHS, with non-COVID-19 patients affected in particular.
Employee Wellbeing Initiatives Likely To Boost Talent Retention Levels
Employees want workplace wellbeing initiatives — especially ones that involve apps — and by providing them, employers can retain their best talent. These are the main findings of some new workplace wellbeing research. At a time when employees are feeling unsettled, despondent and generally uncertain, and many businesses are really feeling the pinch, employers that focus on wellbeing now could weather the storm and come out the other side in a strong position.
Virtual GP Services Could Have Saved UK Businesses £1.5bn Last Year
According to the report from Axa PPP Healthcare, employee travel to face-to-face GP appointments cost UK businesses £1.5bn in lost working time in 2019. The report, Digital health: the changing landscape of how we access GP services, compiled by the Centre for Economics and Business Research (CEBR), outlines how virtual GP services can drive efficiency across both business and healthcare.
Health Insurance Scams: How To Avoid Them
A saddening reality of the coronavirus pandemic is that nefarious individuals have used the crisis to attempt to scam unsuspecting people into taking out financial services products that do not necessarily meet their needs. According to research by Aviva, the number of suspicious emails, telephone calls and text messages relating to financial services products has risen significantly since the coronavirus crisis started.
The Health Impact Of Working From Home
Despite the UK coronavirus lockdown easing, official government guidelines still state that if people can work from home, then they should continue to do so. While this will change in the coming months, the reality is that many employees face the probability that their home working days certainly aren’t over.
Wellness Is High On The Agenda For Today’s Workforce
As COVID-19 lockdowns lift and people start returning to work, a lot of organisations will be focussing their attention on employee wellbeing and wellness. If there’s one thing that the coronavirus pandemic has highlighted, it’s that being stuck at home for abnormally long periods can have a negative impact on both our physical and mental health.
What Employers And Employees Want When It Comes To Benefits
In a recent post our MD, Claire Ginnelly, highlighted the important role of employee benefits in a post-COVID world. Following on from that post, there have been several pieces of interesting research published recently, all of which focus on what employers and employees want when it comes to benefits.
The Role Of Employee Benefits Post-COVID
As my colleague Tom Pullinger recently highlighted, presenteeism is rife among home workers, with more than a third of employees who are currently working from home saying they have continued to work during lockdown despite feeling unwell. It’s a reality that outlines the effect of the ‘always on’ work culture that has emerged over the last decade.
How Employee Needs Will Change In A Post-COVID World
The impact of the coronavirus pandemic on both employers and employees alike has been unprecedented. Businesses that thought they were all but immune to crises suddenly discovered they weren’t and more individuals than ever before have been furloughed or working from home. But while many of the changes to working arrangements and workplace policies were implemented as a direct result of the lockdown, a significant number are likely to remain going forward.
The Impact Of COVID-19 On Cancer Patients
My colleague Paul Howell recently wrote an excellent post about prostate cancer mortality rates, specifically how they are predicted to fall by nearly 10% this year. This is very welcome news, although no one really knows the true impact of COVID-19 on patients waiting for treatment.
Prostate Cancer Mortality: Deaths Predicted To Fall By Almost 10%
This year, deaths from prostate cancer are forecast to fall in the UK – and across Europe – thanks to better diagnosis and treatment, new research reveals. It’s welcome news considering that prostate cancer is the third most common cause of cancer deaths in the UK (behind only lung and bowel), accounting for around 7% of total deaths each year.
A Simple Guide to Popular Employee Benefits
Employee benefits play a vital role in helping your business recruit and retain the best talent. Numerous studies have shown that individuals want to work for an employer who understands their needs and caters for them by offering the right employee benefits.
New Study Identifies Four Talent Trends For 2020
Top employers are navigating uncertain economic times by focussing on the health, financial wellbeing and careers of their employees, a study suggests. According to a report by Mercer, the worldwide consultancy firm, there are four trends for multinational organisations and those with globally mobile employees to “win with empathy” now and post-pandemic.
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