As an employer, your most significant asset is your workforce and providing them with monetary support to cover their living and medical expenses, should they fall ill, goes a long way.
Critical illness cover provides a safety net to protect your employees’ income and your business’s future. It also positions your business as one that puts its staff first reassuring them of their worth to the business.
Critical Illness means an employee receives a tax-free lump sum if they’re diagnosed with one of a number of specific medical conditions and survive for a minimum period of time once they’re diagnosed (usually between 14 and 28 days).
The policy will list exactly which medical conditions are eligible, but these typically include cancer, heart attacks, stroke, MS, dementia and Parkinson’s Disease, among others.