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Sometimes, in life the worst does happen.
Knowing you have DAM good insurance mitigates the risk.

As much as an optimistic outlook helps, on occasions, the worst does sometime happen. At DAM we pride ourselves in being there to support clients in difficult situations with a sympathetic, personal approach supported by excellent cover.

What exactly is Group Risk and should I provide it to my employees?

Group risk is a term used to describe the employee benefits we hope you never have to use.

Along with a corporate pension, group risk is one of the most common types of employee benefits offered to staff and it covers your employees when things don’t go according to lifes great plan.

As well as covering your employees, group risk is equally reassuring for employers. It gives employers the peace of mind that their staff will be protected and the company itself won’t be liable if things do go wrong. Making group risk an employee benefit is more of a necessity than a luxury to many savvy businesses.

Group Risk can also be broken down into Group Life Insurance, Group Income Protection, Group Critical Illness and Group Private Medical Insurance.

We have experience all four of them with answers to the key questions below…

DAM’s Group Life Insurance. Why is it better than the rest?

Life insurance isn’t a subject many like to talk about, but here at DAM we’ve made sure we can provide policies that help both the employee and the employer.

Group Life Insurance is the cornerstone of a valuable corporate risk plan and is one of the most important employee benefits. Investing in Group Life Insurance will firstly provide employees and their loved ones with peace of mind and, secondly, promote greater loyalty to the company.

In the event of an employee’s death during service, DAM’s group life insurance cover pays out to the designated beneficiary and can be based on a multiple of salary or paid as a fixed amount in the form of a lump sum.

As well as being looked after financially, at DAM we go above and beyond to also make sure that an employee’s loved ones are able to cope with the situation. Associated services such as bereavement counselling provide the personal touch that we pride ourselves on at DAM and help make a tough situation that little more manageable.

DAM’s Group Income Protection. Is it necessary for my company?

Also known as Long Term Disability Cover or Permanent Health Insurance, DAM’s Group Income Protection is an employee benefit which gives the peace of mind that comes with being financially supported in the event of suffering a long term disability.

This benefit is designed to provide employees with an income when they are absent for a long time and when they may not even be able to return to work. A Group Income Protection policy provides a regular income expressed as percentage of salary after a waiting period of 13, 26 or 52 weeks.

At DAM, we believe that Group Income Protection is a necessity. With the state support option so limited and subject to such rigorous and continuous qualification, Group Income Protection is an employee benefit that workers really do appreciate. Removing the stress associated with long term disability is an underestimated employee benefit and seeing a company make such a loyal gesture encourages employees to become just as loyal to the company.

DAM’s Group Critical Illness. Is it worth it?

With the escalating costs of both healthcare and major treatments, a group critical illness package is certainly worth it. The real question is not if you can afford it, but whether you can afford not to have a Group Critical Illness Package. Dealing with an employee’s serious illness without a Group Critical Illness Plan can be financially draining for both the employer and the employee.

DAM’s Group Critical Illness Cover is the most effective protection against these massive costs as it provides a lump sum to employees on diagnosis of specific illnesses, allowing both parties to move on with minimal hassle.

Group Critical Illness is one of the most worthwhile employee benefits according to our corporate clients.

DAM’s Group Private Medical Insurance. Is it going to take care of us?

Yes. That’s the plain and simple answer.

Group Private Medical Insurance is one of the most common employee benefits out there and, as such, there are a wide range of polices.

There are several different Group Private Medical Insurance options available to choose from based on your company’s employee benefits budget, but one thing that every policy has in common is that it will take care of your staff for most treatments.

There are, of course, major differences between each of the available Group Private Medical Insurance products, but DAM will explain these differences to you so that you can make an informed and appropriate choice.

Whatever Group Private Medical Insurance you go for, the basics of this employee benefit is that employees will be able to access immediate high quality medical assessment and, where appropriate, treatment.

There are massive benefits for both employers in getting quality staff back to work sooner and for employees in having the high quality treatment available to them!

Is it about time your company had a look at its group risk policies?

You can ask us what cost-effective options there are for your organisation by contacting us today.