FAQs
Private Healthcare FAQs
Yes, with group healthcare policies, your company can opt for Medical History Disregarded (MHD) underwriting. This ensures all employees are covered, regardless of their medical history, offering peace of mind and comprehensive protection for your workforce.
We provide flexible underwriting approaches to match your company’s needs:
- Moratorium: Pre-existing conditions are excluded initially but may be covered after a symptom-free period.
- Full Medical Underwriting: A detailed review of employees’ medical histories for tailored coverage.
- Medical History Disregarded (MHD): Offers blanket coverage for all employees without exclusions, ideal for group policies.
- CPME (Continued Personal Medical Exclusions): Transfers existing exclusions from another provider’s policy with no new medical assessments required.
Standard policies focus on acute treatments. However, we can help your business include ongoing management for chronic conditions in the plan, depending on the coverage you want to provide for your team.
For group policies—especially those with MHD underwriting—pricing is consistent across the board, regardless of an employee’s family history. This ensures fairness and eliminates discrimination.
An excess is the contribution employees make towards a claim before the insurer covers the remaining costs. Businesses can choose different excess levels to balance cost-effectiveness and accessibility for employees.
Yes, most group healthcare policies allow employees to extend their coverage to spouses and dependents at competitive rates, enhancing your company’s benefits offering and boosting employee satisfaction.
Cash Plans FAQs
A cash plan reimburses employees for routine healthcare costs like dental, optical, and physiotherapy treatments. It’s a cost-effective way to provide valuable health benefits, improving employee wellbeing and reducing absenteeism.
While private healthcare focuses on acute medical treatments and specialist care, a cash plan is designed to cover everyday healthcare expenses, making it an affordable addition to your benefits package.
Yes, most providers include a waiting period (typically 3-6 months) before employees can claim certain benefits. We’ll work with you to find the most suitable provider for your team.
Yes, many cash plans allow employees to include family members, offering additional value to your business’s benefits package.
If provided by your company, cash plans are typically classified as a taxable benefit. However, the positive impact on employee retention and wellbeing often outweighs the tax implications.
Group Risk FAQs
Group risk insurance encompasses policies such as life assurance, income protection, and critical illness cover for your employees. These benefits not only support staff during challenging times but also enhance your company’s reputation as a caring and responsible employer.
Eligibility depends on the terms of the scheme. Some policies may require employees to complete a probationary period or fall within certain age brackets. We’ll help you find a solution that best suits your workforce.
Yes, policies can be tailored to provide different levels of coverage based on employees’ job roles, seniority, or other criteria, ensuring your company’s investment aligns with your goals.
Group Life Assurance: Payouts are typically free from income tax for employees and exempt from inheritance tax if placed in trust.
Group Income Protection: Benefits paid to employees are considered taxable income, but employer contributions are not taxable.
Group Critical Illness Cover: Any payout made under a group critical illness policy is treated as a taxable benefit for employees.
Group cover usually ends when an employee leaves, but some policies allow departing employees to continue cover independently at their own cost.
Business Protection FAQs
Business protection insurance ensures your company remains financially stable in the event of a key individual’s death or critical illness. It safeguards against unexpected disruptions, providing a safety net for your business operations.
We offer tailored solutions to meet your specific needs, including:
- Key Person Insurance: Protects your business from the financial loss of losing a vital team member.
- Shareholder Protection: Ensures the smooth transfer of shares by funding buybacks if a shareholder passes away.
- Business Loan Protection: Covers outstanding debts, safeguarding your financial position.
- Relevant Life Insurance: A tax-efficient way to provide life insurance for directors or employees as a company-funded benefit.
Relevant Life Insurance enables your company to offer life cover for employees or directors in a tax-efficient way. Premiums are paid by the business, and the policy is set up in trust, ensuring payouts are free from income and inheritance tax.
In many cases, premiums for Key Person Insurance and Relevant Life Insurance may be tax-deductible. We’ll help you structure your policies to maximise tax benefits while staying compliant.
Yes, Shareholder Protection is particularly valuable for succession planning. It ensures a smooth transition of ownership by providing funds to remaining shareholders, maintaining stability and control within the business.
Absolutely. Small businesses are often more reliant on key individuals, making business protection critical for maintaining continuity and financial security in the face of unforeseen events.
Pension FAQs
A workplace pension is a retirement savings plan funded by both the employer and the employee. It helps your team save for the future while demonstrating your company’s commitment to their financial wellbeing.
Pensions remain in the employee’s name and can either stay in your scheme or be transferred to another. This flexibility supports employees’ long-term financial planning.
Yes, pension contributions are tax-deductible for businesses, making them a cost-effective way to enhance your benefits package.
Yes, you can increase employer contributions to attract and retain top talent. Additional contributions also demonstrate your commitment to employees’ financial security.
Auto-enrolment is a legal requirement for businesses to enrol eligible employees into a workplace pension scheme. It ensures employees save for retirement and reinforces your position as a responsible employer.
Pensions complement benefits like life assurance and income protection, creating a comprehensive package that supports employees’ immediate and long-term financial wellbeing.