All news
Life insurance and critical illness cover benefits 'offered by employers'
January 10, 2011
Workers with a critical illness cover policy are protected against the financial effects of suffering a serious medical complaint.
Many employers are offering their workers perks such as life insurance and critical illness cover in order to retain their most-talented members of staff and improve morale levels.
According to the recently-conducted Group Risk Employer survey conducted by industry body Group Risk Development (Grid), 25 per cent of companies provide group life insurance and income protection as part of their benefits.
Around 14 per cent also offer critical illness cover to their workers, reports the Employee Benefits website.
Katharine Moxham, a spokesperson for Grid, said: "This shows employers do understand the value of these packages for themselves and supporting their employees in terms of their protection needs."
Earlier this month, Paul Stokes, head of financial planning for HSBC, told the Mortgage Introducer website that more people should be considering critical illness cover.
He said it was worrying only two per cent of people surveyed by the bank had said they plan to increase their personal insurance protection in the new year.
Published by Sue Clarkson
Critical Illness Cover
