Group Critical Illness Cover
Group critical illness cover can be a valuable staff benefit that provides a tax-free cash lump sum if your employee has been diagnosed with a specified serious illness or condition, for example cancer, stroke or multiple sclerosis. This could happen more than you may think.
The cash lump sum is designed to help ease employee's financial concerns to pay bills, cover the costs of trips to the hospital, specialist treatment or modifying their home, leaving them to concentrate on recovering.
Plans may not cover all the definitions of a critical illness.
The definitions vary between product providers and will be described in the key features and policy document.