Employee Protection Schemes

Death-in-Service Benefits

Many employers provide a life assurance scheme for employees. This cover is normally provided without the need for any medical evidence and is available at a lower cost than if purchased individually.

If an employee dies before retirement, typically a multiple of their annual salary will be paid out in a tax-free lump sum to their nominated beneficiary. 

Long-Term Incapacity Benefits

These schemes provide an income in the event that an employee cannot work due to an accident or illness. Benefits of up to 75% of salary are paid out after a waiting period of between 4 and 52 weeks (most commonly 26 weeks) and can continue up to retirement age.

Employees who are off sick for an extended period may also qualify for Statutory Sick Pay for the first 28 weeks so it is important to tailor a scheme to an employer’s specific needs and employment contract requirements.

Group Critical Illness Cover

Group Critical Illness Cover pays a tax-free lump sum directly to your employee should they suffer any of a number of severe, life threatening medical conditions. The lump sum can be used by the employee to help ease some of the financial problems that will inevitably occur, often helping them to return to work sooner.

Arranging Cover

BNH provide a broking service for these benefits which will ensure that the costs and policy terms are competitive and appropriate for your needs.