How group critical illness insurance works
Group critical illness insurance works by providing your employee with a tax-free payment in the scenario that they are diagnosed with a critical illness or if they undergo specific operations. Normally, this payment won’t be tied to a specific transaction, meaning the employee doesn’t have to spend it on a specific medical bill, and that they can use it as they see fit to help manage financial strain.
To make a claim through group critical illness insurance, you’ll need to notify the insurance provider as soon as possible following a diagnosis or surgery. Collect all medical records which prove the details of the diagnosis, as well as contact details of the doctor or medical professional who was responsible for it. Then, you’ll be sent a claim form to complete, before being paid out!
Often, our clients worry that insurance providers won’t pay out in a lot of cases, but it’s our job to ensure that we search a wide panel of insurers to find a deal which is actually beneficial to you and your employees.
We also offer services for private medical insurance, group dental insurance, employee mental health support and other types of business insurance.
We take the time to listen to your specific medical needs.
We search the market for a plan that fits.
You, your family, or your employees have access to swift and professional medical treatment.
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How group critical illness insurance covers you and your employees
Group critical illness insurance covers you and your employees by paying out a lump sum (tax-free) payment in the event of serious illness or sometimes surgery.
This policy can be applied to all employees of your business or to a specific group. You, and all covered employees will be entitled to the same payouts under the same circumstances. All you have to do is pay a fixed rate annually (which is often a lot less than people realise) and you and your team are covered.
Once paid out, this money can be spent at the discretion of the payee. There is no obligation to spend the money in a certain way, which is one of the strongest benefits of group critical illness insurance.
What does group critical illness insurance cover?
Typically, group critical illness insurance covers more serious conditions such as:
- Stroke
- Cancer
- Heart attack
On top of this, it also typically includes operations such as:
- Major organ transplants
- Heart valve replacement
- Coronary Artery bypass grants
Other conditions/scenarios which some plans may cover:
- Pregnancy
- Permanent disability
- Kidney failure
- Alzheimer’s disease (often with age restrictions)
- Coma
It’s important to understand that different policies will cover different things, which is why it might be useful to talk to us. Our goal at Dragonfly Crowd is to find the right policy for you and your employees, with the right level of coverage, as easily as possible.
9 million people across the UK have no savings and another 5 million have less than £100 (Money and Pension Service – Nov 2022).
Who is business critical illness insurance suitable for?
Business critical illness cover is suitable for anybody looking to protect themselves and their employees.
It’s an insurance type which can be very attractive to top talent looking for new businesses to work for, because it covers individuals in the worst possible scenarios. As a result, for business owners looking not only to cover themselves, but also create an attractive organisation to work for, group critical illness insurance is ideal.
It’s suitable for large and small businesses alike, because we can find plans for you which are suitable for any number of people, and we can also offer plans which cover some employees of a business, but not others.
There are flexible offers from a wide range of insurers we have access to, and our expertise involves finding the best offers to suit your individual needs.
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Why Choose Us?
Peace of mind
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Tailored plans
No call centre
Cover for pre-exisitng medical conditions Frequently Asked Questions
The answer is not a simple one. Speak to us for clarification on this point as we want to make sure we advise you correctly.
Certainly, provides peace of mind should a critical illness strike.
Insure your most important asset, your employees. Critical illness provides peace of mind should illness strike but, it also helps to get those employees back to work as soon as possible.
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Simply provide us with your information, and we'll promptly get in touch (typically within 24 hours on weekdays) to discuss your health insurance requirements. Afterward, we'll follow up with your complimentary quote (usually within a week).