We build value

We make sure that companies and their employees, irrelevant of size, are protected in valued ways that can be easily implemented.

Protection benefits are simple to understand, relatively inexpensive and tax efficient. They are a popular employer choice. But they are often the least valued by employees because naturally, only a few ever get close to them. As such, price wins virtually every time – commodity purchases, that following localised adjustments, work for international workforces too.

But we’ve found room for improvement and innovation. Gladis, our super-intelligent, self-service platform, puts clients in control and reduces costs and risks by identifying data errors monthly, rather than the usual annual simplified approach.

View the video below to understand the current challenges in the protection market.

Group life assurance

Traditionally pays a lump sum payment to an employee’s chosen beneficiary should they die while employed.

The financial support it gives to bereaved families is often vital and it can pragmatically protect employers from the burden of sudden and significant payouts. But managing life assurance can be challenging and high risk. It often takes a disputed or rejected claim to realise that employee data is out of date and therefore so is the cover. We give our clients Gladis to help reduce their risk.

Finding the right product in a busy market can have significant budget implications and also increase its value as a benefit.

Group income protection

Income Protection

Watch the video below explaining Income Protection and why employers should consider utilising it.

 

Protects an employee’s earnings if their ability to work is affected by illness or injury.

This has become a pivotal ‘duty of care’ benefit for many employers as statistically employees are three times more likely to use it over life assurance and state support cannot guarantee a reasonable standard of living. Yet long-term cost and employment liabilities are still a worry.

 

Critical illness insurance

Pays a tax-free lump sum to an employee on diagnosis of a critical illness.

UK employer premiums for this are taxed as income and pre-existing conditions tend to be excluded, so this isn’t a typical employee benefit. However, when an employee needs expensive treatment or life-changing support, it quickly translates into highly valued employer help.

Employers need to understand the implications and therefore be clear on the reasons for including this benefit. A more integrated approach or working it into flexible benefits might be the best way forward.

Personal accident insurance

Pays a tax-free lump sum to an employee following an accident that affects their ability to work

UK employer premiums for this are taxed as income and the policy terms tend to be restrictive – the cause has to be an accident rather than a medical condition for instance – so it isn’t a usual employee benefit.

However, when an employee’s lifestyle has to change, this quickly becomes highly valued. It’s straightforward to explain and doesn’t lead to a long-term employer commitment, but payments do vary according to the injury. It’s most commonly offered as a flexible benefit option.

Multi-national pooling

Groups insurance policies together in a ‘pool’ to drive better value for multi-national employers.

Companies with two or more operations in different countries can combine to form a ‘pool’ that maximises their global purchasing opportunities. Each country still designs locally appropriate solutions but effectively sources insurance cover through collective buying power.

This can generate improved local insurance rates and pay out a home country dividend if the claims experience is positive. But establishing a pool can be tricky without the right advice. We assess whether this approach is even feasible before getting into the detail.

Personal Nurse Adviser Service

Advises and supports people through long-term, serious and mental ill health.

Traditionally employees receive benefits that practically and financially help them if they become ill. But what if they struggle to cope with an illness or the questions it raises? How can employers best support them then?

Our sister company RedArc, supports ill health employees with practical advice and emotional support throughout their illness. Their team of Personal Nurse Advisers is experienced in a range of medical fields and equipped to individually help patients with advice and information on specific treatments and relevant therapies. Regular, compassionate telephone conversations with the same qualified nurse ensures that employees make the best use of available medical care.

Through RedArc, we offer long-term illness support for employees impacted by a significant medical condition, disability or critical illness and mental wellbeing support for those suffering from stress, depression, anxiety etc.

Download RedArc Flyer

We’re pleased to let you know that Punter Southall Health & Protection Ltd has recently joined award-winning business, Howden, and that we are now part of the Hyperion Insurance Group.

Going forward we will now be known as Howden Employee Benefits & Wellbeing and to find out more about the extended range of services we can now offer you, please click here.

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