Flexible benefits.

Flexible benefits, giving staff more choice

Flexible benefit plans have been growing in popularity over recent years as employers not only look for ways to control their costs, employees are also demanding a benefits package that’s much more relevant to their needs today.

We’ve been helping advisers and employers deliver the right solution for employees for over 10 years now and we’ve been recognised by Swiss Re as a leading provider in their last three Group Watch surveys 2008,2009 and 2010.

Flex schemes

You can choose a range of core benefits that employees can top up and change, as long as they’re still employed by you, according to their life stage or individual circumstances:

• Group Life Assurance - from 1 to 12 times salary. The maximum benefit we’ll insure for death in service benefits is £10 million.
• Group Income Protection - voted product of the month by Health Insurance magazine, our Multiflex solution now allows employees to flex up from 40% to 75% of their salary as well as flex out from a two year limited term basis, up until benefit termination date. We’ll pay benefit to the member’s state pension age up to a maximum of their 70th birthday.
• Group Critical Illness Cover - is available up to five times scheme earnings or £500,000, whichever is less.

Voluntary plans

We also provide voluntary plans for Group Life Assurance and Group Critical Illness Cover, where the costs are met by the employee through salary deduction or salary sacrifice. This includes optional cover for spouse and partners where costs are generally cheaper than individual policies because of the economies of scale of being part of a group arrangement.

• Group Life Assurance for employees - £250,000 maximum benefits
• Group Life Assurance for employee’s partners - £250,000 maximum benefits
• Group Critical Illness Cover - employees can cover up to the lesser of £250,000 or five times their P60 earnings. Their spouse, registered civil partner or partner can also be covered, up to a maximum of £150,000 or the amount of cover they’ve taken, if less. 

What you can expect

• We’ll work closely with those designing your scheme to ensure it meets your specifications.
• We’ll organise an implementation meeting to explain the process and give you the chance to ask any questions.
• We'll attend employee roadshows wherever possible to help explain the benefits to your employees.
• We'll provide literature for your employees plus information for your intranet site.
• We'll give you and your insured employees access to our free Employee Assistance Programme with online and telephone support, provided by PPC Worldwide.
• We’ll provide administration help and support throughout. For new Group Life Assurance schemes, we’ll even provide trust documentation and rules.

You can find out more information in our FAQ section and our guide to managing flexible benefits.

You need to know

All benefit changes are subject to being actively at work. We’ll continue to provide cover and pay any valid claims as long as premiums are paid and terms are met. Policy terms will be unique to each business and there are some circumstances where we won’t provide cover. We’ll give you the terms with our quote and you should read this together with our technical guide.