Other Employee Benefits
Many firms choose to provide additional employee benefits to compliment a pension arrangement; there follows a summary of some of the more common choices which you may wish to consider. We can work with you to create a package that is appropriate to your firm’s needs and ensure that you receive competitive terms.
Death In Service Cover
Death in service pays a lump sum, and/or dependents' pension in the event of an employee dying. The arrangement takes advantage of pension legislation so that the lump sum may be paid free of Inheritance Tax and the firm can claim tax relief on the cost.
Death in service schemes are typically intended to cater for workforces of five or more employees. The same advantages of tax relievable, company paid life assurance may be provided for one or more directors by using the Relevant Life Policy legislation. Please see the ‘Key Person, Co-shareholder and Relevant Life Cover’ page for more detail.
Private Medical Insurance
Private Medical Insurance (PMI) typically provides private medical treatment for qualifying, acute, curable medical conditions and may pay for inpatient and outpatient treatment, accommodation costs and other benefits. Private treatment can mean all the difference between an employee being sick and unproductive whilst they await treatment or receiving the appropriate care and then returning back to work promptly. Research shows that PMI is highly valued by employees and is an effective aid to recruitment.
Income Protection
Income Protection is sometimes referred to as Permanent Health Insurance (PHI) and is intended to provide an employee with a replacement income during prolonged periods of illness or disability. This removes the financial burden from the company and ensures that the employee's financial position is protected.
Critical Illness Cover
An increasing number of companies are arranging critical illness cover to ensure that a lump sum is available to an employee to assist them in dealing with the consequences of a critical illness.
The range of choices available is wide from a broad range of insurers. We can provide independent, unbiased advice to guide you through the choices and ensure that cover is placed with the most competitive insurers.
We have provided independent financial advice to businesses for many years in Brighton, Hove, Sussex, London, Reading and the South East. We would be delighted to discuss your employee benefits needs. Please contact us for further information.
Death In Service Cover
Death in service pays a lump sum, and/or dependents' pension in the event of an employee dying. The arrangement takes advantage of pension legislation so that the lump sum may be paid free of Inheritance Tax and the firm can claim tax relief on the cost.
Death in service schemes are typically intended to cater for workforces of five or more employees. The same advantages of tax relievable, company paid life assurance may be provided for one or more directors by using the Relevant Life Policy legislation. Please see the ‘Key Person, Co-shareholder and Relevant Life Cover’ page for more detail.
Private Medical Insurance
Private Medical Insurance (PMI) typically provides private medical treatment for qualifying, acute, curable medical conditions and may pay for inpatient and outpatient treatment, accommodation costs and other benefits. Private treatment can mean all the difference between an employee being sick and unproductive whilst they await treatment or receiving the appropriate care and then returning back to work promptly. Research shows that PMI is highly valued by employees and is an effective aid to recruitment.
Income Protection
Income Protection is sometimes referred to as Permanent Health Insurance (PHI) and is intended to provide an employee with a replacement income during prolonged periods of illness or disability. This removes the financial burden from the company and ensures that the employee's financial position is protected.
Critical Illness Cover
An increasing number of companies are arranging critical illness cover to ensure that a lump sum is available to an employee to assist them in dealing with the consequences of a critical illness.
The range of choices available is wide from a broad range of insurers. We can provide independent, unbiased advice to guide you through the choices and ensure that cover is placed with the most competitive insurers.
We have provided independent financial advice to businesses for many years in Brighton, Hove, Sussex, London, Reading and the South East. We would be delighted to discuss your employee benefits needs. Please contact us for further information.