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Employers 'should provide critical illness cover advice'
July 22, 2010
Employers should give their workers advice on issues such as critical illness cover.
This is according to Richard Morgan, head of consultancy services at Vebnet, who told HR Magazine that 77 per cent of businesses feel they have the opportunity to improve their employees' financial awareness.
However, 39 per cent have no plans to do so and more than 50 per cent currently offer no training on the issue.
He suggested companies could change this by offering their workers access to advice relating to various important issues.
"It should [cover] … borrowing and mortgages, saving and investment opportunities, planning for retirement and pensions, critical illness protection and inheritance planning," Mr Morgan said.
Earlier this week, an article in the Economic Times stated that critical illness cover can help take care of immediate and future financial requirements for anyone struck down with a terminal problem.
It said serious illness is not only an issue for the afflicted person, but also for any dependents they may have.
Critical Illness Cover
