Group Critical Illness
Please note: This information refers to Group Protection policies quoted after 28 September 2015.
Group Critical Illness cover provides a lump sum benefit if one of your employees is diagnosed with a critical illness or undergoes one of the listed operations (that meets our policy definition) and survives for at least 14 days. We only cover the critical illnesses we define in our policy and no others.
You can select a benefit level to suit your budget up to a maximum of 5 x the employees' salary or £500,000 (whichever is lower). You can choose whether or not you would like to include your employees' spouse or partner under the policy.
The policy also covers members' children. If they need to claim under the policy a lump sum payment may be payable up to 25% of the member's benefit (up to a maximum of £20,000).
A Group Critical Illness policy will not pay a claim for any pre-existing conditions and also excludes associated conditions, such as critical illnesses or operations that are related to pre-existing conditions. For example, an employee may have had a heart attack before joining the scheme; any future illness related to the heart attack would not be covered, so we wouldn't pay a lump sum if the employee later needed coronary artery by-pass surgery.
By providing a Group Critical Illness benefit to your workforce, it helps to demonstrate that you care about your employees and their welfare – the last thing anyone wants when they are ill is additional financial worries. Group Critical Illness cover gives employees a lump sum to spend on anything they need; paying bills, making alterations to their home (as a result of their illness) or to help with their recovery.
Group Critical Illness can also be offered as a flexible benefit to your employees.