Spouse’s & Children’s Pension

An employee’s family is naturally of primary importance and this benefit will provide valuable financial support should the employee die while they are an employee of the company. Their family will not be left to deal with the financial demands of everyday life on their own as this benefit provides a guaranteed regular income for both the employee’s spouse and their children. Income is normally paid for the lifetime of the spouse and can be arranged with an escalation rate to provide some protection against future inflation. A child is defined as unmarried and under the age of 18 (or 21 if in full time education).

Critical Illness

With the escalating costs of both healthcare and high cost treatments, dealing with a serious illness can be financially draining. Critical Illness cover is a very effective protection against these costs as it provides a lump sum to employees on diagnosis of a specific illness or other prescribed conditions. The diseases and/or conditions covered under Critical Illness are determined by the employer at the outset of the plan and can be chosen from two levels of benefit cover, details of which are available on request.

Accidental Death & Dismemberment

There will always be ill-fated circumstances in life that cannot be foreseen or prevented. Accidental Death cover can however provide the reassurance that an employee’s dependants will receive a lump sum payment should an employee die as a result of a work accident. The benefit is usually based on a multiple of salary or a fixed sum and is paid in addition to the Group Life benefit.

If during the course of their employment an employee is unfortunate enough to suffer an accidental dismemberment, or the loss of use of a limb, this cover provides the employee with a lump sum payment to help alleviate any associated financial strain. Benefit is provided based on a scale which determines the amount paid depending on the level of injury sustained. Cover is not restricted to an accident during working hours but is provided on a 24-7, 365 days a year basis.

Waiver of Premium

In the event of an employee’s long term disability, there may be a period of absence from work where life cover premiums or pension contributions would no longer be paid by the employer. Waiver of Premium cover can be purchased to ensure that premiums are paid during disability so that there is no loss of benefits to the employee, allowing them to focus on recovering and returning to work. In the event of disability, the Waiver of Premium cover will continue to pay the Group Life premiums or the employee’s pension contributions due. These payments will continue, at no cost to the employer, while there is a valid disability claim and while the Group Life plan is in place.