Benefits of International Group Risk Insurance
The three main International Group Risk Protection schemes include, Group Life, Group Critical illness or Group Income Protection. These policies are particularly suited to companies with a global footprint and internationally mobile employee’s. HR managers and multinational organisations face the challenge of providing consistent protection benefits for a globally diverse workforce
For any business, one of the keys to attracting and maintaining high calibre staff is to provide high quality benefits. International Group Risk policies can be tailored to meet a companies needs in the provision of consistent insurance benefits for international employee’s, whilst offering protection to businesses against long term absenteeism and financial disruption as a result.
International Group Life is now seen as an essential part of the benefits package by most employee’s, it provides peace of mind knowing that their families will be provided for financially if they die. Policies are simply administered and offer a wide range of benefit options to suit company structures no matter how complex.
As part of a modern employee benefits package, Income Protection enables employers to pay employee’s and income should illness or accident prevent them from working for a prolonged period of time. By doing so, the employer recognises the value of its employee’s and cares about the welfare and financial security of them and their families. By having Income Protection in place, the financial impact on the business is reduced if it loses employee’s to long-term absences at work, as the cost of the contractual obligation to continue a percentage of salary is met by the insurer.
Critical illness can be offered in addition to Income Protection and provides a lump sum payment in the event of critical illness being diagnosed. This benefit is also suited to employers who may not be offering a long-term salary commitment to their employee or if the employee is likely to leave.
For expatriates or employee’s seconded overseas it is common for them to experience stress or concerns regarding financial implications for themselves and their families, often contributing to anxiety or other mental health related conditions. By offering any form International Group Risk protection can drastically help relieve these concerns.
BDHL can assist you with implementing and managing a worldwide employee benefits programme. 01892 891900