Group Risk

Group risk policies aim to offer financial protection for employees and their families.

These products are highly valued by employees and may actually be relatively inexpensive for employers to implement. Group risk policies are able to be tailored to suit most budgets and requirements. Aldermont Group are specialist health and group risk advisors and will research the most appropriate group risk options for you and your employees. From death in service policies to group income protection and critical illness, we are on hand to help.

.1%

Income Protection cases where insurers helped the employee return to work with early intervention before a claim was payable*

The UK Group Risk industry paid out in claims in 2022: equivalent to £6.05m a day*

Of new critical illness claims were for cancer related illnesses*

Group Life Insurance

A good employer cares about their employees and about what happens to the family of an employee if the worst happens, and an employee dies.

A Group Life Insurance policy provides a tax-free lump sum, paid to the family of the qualifying employee in the event of their death. Your most precious business asset is the talent and commitment of your staff. This policy is evidence of your commitment to them, protecting their family and dependants if the worst should happen.

Group Income Protection

Group Income Protection policies are regarded as a core component of any successful employee benefits package and are highly valued by employees.

These policies aim to provide employees with a replacement income, when they cannot work for an extended period of time because of illness or injury. This replacement income is worked out as a percentage of the employees salary. This is usually 75% of salary and payments will continue until either the employee is well enough to return to work or they reach the end of the payment period insured under the policy. The payment period is usually either a fixed number of years or until the employee reaches State Pension Age.

Group Critical Illness

Group Critical Illness cover pays a tax-free lump sum to an employee upon diagnosis of a critical illness.

The conditions covered vary from one insurer to another, but usually includes cancer, heart attack and stroke. Group Critical Illness cover may reassure employees and help mitigate potential financial problems if they become seriously ill.

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*Source: 2022 full claims survey stats – Group Risk Development (GRiD)