Group Critical Illness Cover in the workplace

Group critical illness (GCI) is one of three group risk products that Berwick Devoil Healthcare offer advice and guidance on, alongside income protection and life assurance. You may be wondering what exactly critical illness cover entails and how may it benefit your employees?

Group Critical Illness cover will pay a tax-free lump sum directly to an insured member should they suffer from any of a list defined medical condition or surgical procedure and survive for 14 days. The lump sum payment can be used however the member in question wants it to be. For instance, the member could make adaptions to their home which may make it easier to live with said illness, fund private treatment or even take a well-deserved holiday once their treatment has finished.

Most Group Critical Illness providers also offer members/groups the option to cover employees’ spouse/partners for an additional premium, whilst a handful extended the cover to members children for no extra cost.

There are a number of different options when it comes to increasing cover or reducing cover on a CGI scheme and even different ways in which the scheme can be funded. Whilst most policies have a base cover of around 13 critical illnesses ranging heart attack, stroke and cancer. All CGI providers offer an “enhanced” list of 26 additional conditions (on top of the base cover of 13), which can include things such as a brain tumour, rheumatoid arthritis and total permanent disability.

A recent 2018 study revealed that 1 in 2 people born after 1960 will be diagnosed with some form of cancer during their lifetime. Though there are more than 200 types of cancer, just the following four variations account for 53% of all cases in the UK – Breast, Prostate, Lung and Bowel. Cancer alone makes up for a total of 65% of all critical illness claims each year.

The above statistic is one of many reasons so consider if GCI would be a good fit for you and your employees. Should you require any further information on Critical Illness or any other Group risk products, please do get in touch with us.



Office contact number: 01892 891900