You know, sometime in life the worst does happen. Knowing you have DAM good insurance on your side mitigates the risk.
At DAM we pride ourselves in being there to support clients during difficult times with a sympathetic, personal approach supported by excellent cover. Group Risk covers a range of different insurance types, the most popular being Group Life Insurance, Group Income Protection, Group Critical Illness and Group Private Medical Insurance. Each type is designed to cover your employees when things don’t go according to plan.
Group risk is equally reassuring for employers. It gives them the peace of mind that their staff will be protected and the company itself won’t be exposed if things do go wrong.
As independent advisers, we will explore the entire market, to ensure that each insurance scheme meets your individual company requirements, with cost also playing an key factor. Often, this can mean that we will set up and administer a range of benefits across multiple providers to ensure your overall package meets your needs and budgeting requirements.
Group Life Assurance
Whilst life insurance isn’t a subject many like to talk about, we believe 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.
Here at DAM we’ve made sure we can provide policies that help both the employee and the employer, providing a tax free lump sum for the loved ones of an employee who dies whilst covered by the policy. It 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.
Group Income Protection
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 providing the illness is covered by the policy.
This benefit is designed to provide employees with a regular 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. And as a pernament policy, this will pay out as many time as necessary until the policy ends.
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.
Group Critical Illness
DAM’s Group Critical Illness Cover is a long-term insurance policy which covers serious illnesses listed within the policy. If you get one of these illnesses, a critical illness policy will pay out a tax-free, one-off payment on diagnosis of a specific illness - subject to a survival period (typically 14-30 days).
Dealing with an employee’s serious illness without a Group Critical Illness Plan can be financially draining for both the employer and the employee, which is why Group Critical Illness is one of the most worthwhile employee benefits allowing both parties to move on with minimal hassle.
Group Private Medical Insurance.
Group Private Medical Insurance is one of the most common employee benefits out there, offering access to immediate high quality medical assessment and, where appropriate, treatment.
With a range of different policy types to chose from, ranging from basic cover to more comprehensive terms, DAM will explain these differences to you so that you can make an informed and appropriate choice.
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.