In our opinion this is the most important benefit that an employer can offer because it is inexpensive, valued by employees, easily understood and requires very little administration.

Benefits are a multiple of salary, ranging from one to four times.

We recommend  that employees are included in the scheme immediately after they begin employment as this reduces administration costs and improves underwriting.

The cost of the scheme is deductible against taxable profits and the benefits paid tax free to nominated beneficiaries under a Discretionary Trust.

An additional level of cover which is becoming more commonly offered is Critical Illness. This is a lump sum payment paid out on the diagnosis of a medical condition which is either life threatening or reduces ones quality of life to such a degree that normal work cannot be carried out.