Our dedicated Group Risk Division brings to you a highly professional team of specialist Group Risk consultants and support staff. We provide an unrivalled quality of service support and industry expertise to deliver and meet the specific requirements of each of our business clients.
Our group risk services can be fully tailored to suit your business requirements and any budgetary constraints you may be facing. Our specialist advisors focus specifically on the following complimentary arrangements as part of a consolidated employee benefits package:
- Group Life Assurance Schemes
- Group Dependants Death in Service Benefits Pensions
- Group Income Protection Schemes
- Group Critical Illness Schemes
Our service-based proposition and expertise in this extremely complex area of the employee benefits market means we are best placed to provide you with a comprehensive range of risk benefit solutions specifically designed around and tailored to meet your specified business requirements whether for Life Assurance, Dependants pensions, Income Protection and Critical Illness covers. We have an exceptionally strong presence in the market which means we can negotiate and secure the most competitive rates for your Group Risk needs.
We work closely with you to design a specifically tailored range of benefit services and in doing so we can combine the best of both worlds by maximising the savings in your business administration and financial costs whilst improving the quality of the benefits which you can provide for your employees. Equally in today’s modern business environment we can incorporate a range of valuable additional Management Information to assist your Human Resources or Personnel department.
Our specialist advisors focus specifically on the following ancillary employee benefits arrangements and in each case you decide upon the nature and level of benefits which you wish to provide. Generally schemes can be set up for a minimum of 3 employees:
Group Life is insurance to cover the lump sum benefit and/or dependants pension benefits payable on the death of a scheme member.
- The cost is usually treated as a trading expense of the employer and not taxed as a benefit in kind for employees
- Lump sum benefits paid by the Trustees under a discretionary trust do not form part of the deceased member’s estate, and are normally free of inheritance tax
- Group Life Schemes and Dependants Pension Policies are required to have a minimum of 3 lives for a registered scheme
Group Income Protection
Group Income Protection Insurance provides cover for a proportion of an employee’s income due under in the event of being unable to work due to illness or injury. Additional expenses can also be covered.
- You can choose different levels of cover for different categories of employee
- The insurer pays the income benefits to the company on a monthly basis from the end of the deferred period for as long as the claim remains valid
- The cost is usually treated as a trading expense for tax purposes and is not taxed on employees
Group Critical Illness
Group Critical Illness pays a tax-free lump sum directly to the individual should they suffer any of a list of defined medical conditions or surgical procedures classified as critical illness events.
Under some types of cover, a lump sum may also be paid out should an employee become permanently disabled as a result of injury or illness.
- Taxation of schemes – normally schemes are financed by the employer In this situation, the cost to the employer is allowed as a trading expense and lump sum benefits are paid tax-free (under current revenuepractice) to the member.
- The premiums are a ‘benefit in kind’ for the members. Most providers also offer a reduced level of cover for members children aged between 6 months and 18 years (no upper limit to the number of children who can be covered).
Employee Benefits & Retirement Planning
- Group Risk Schemes
- Income Protection
- Life Assurance
- Critical Illness
- Group Healthcare, Hospital Cash Plans and Dental Schemes