Group Critical Illness

Group Critical Illness cover seeks to provide a lump sum payment to your employee if they are unfortunate enough to suffer certain “dread diseases”, typically cancer, heart attacks, strokes, etc. This type of cover is increasing in popularity in the general population. Perhaps the reason for the rise in popularity is that modern medicine, and indeed our generally healthier lifestyles, are now more successful than ever at extending life spans. Medicine is much better at identifying and treating those dread diseases that, once contracted, may previously have indicated very short life expectancy. Often people survive for long periods of time, or make full recoveries; however they inevitably suffer long periods in which they are debilitated.

Clearly their life assurance benefit is of no help to them until they die, similarly income protection may not help them to adjust their home or lifestyle sufficiently, and private medical cover might not meet the cost of all their treatment. This is where Group Critical Illness cover comes into its own. These policies can release a lump sum on the diagnosis of a “dread disease”; this might enable your employee to source private medical treatment, or perhaps adapt their home or car, or simply to enable them to take the holiday of a lifetime. Essentially then it enables the individual affected to have some financial choices which they might not otherwise have.

As with the other group insurances described elsewhere on this site, this type of cover also benefits from the group underwriting approach and premiums are also generally lower than for a series of individual policies.

Lighthouse Group Employee Benefits can provide significant assistance to you in the selection, deployment, and ongoing maintenance of Group Life Assurance schemes.