Group Critical Illness: Cover your workforce, cancer is on the increase

Critical Illness cover is a level of health and wellbeing insurance. Critical illness cover pays out a tax free lump sum in the event that you are diagnosed with a serious critical illness or medical condition during the term of the policy such as a heart attack, stroke, cancer or kidney failure. If you have suffered from one of these illnesses, and survive, and are covered by a critical illness policy, then the tax-free sum paid out can help towards the cost of medical treatment as not all treatment options are available on the NHS, it will also alleviate financial pressures and enable you or your employee potentially a speedier recovery and back to normal daily life and back to work.

For an employer, offering your employees a group risk insurance policy, as part of an employee benefit package can be financially rewarding. Group critical illness is an affordable benefit. For employees having a full benefits package can make them feel valued and ultimately motivated to work for a caring employer.

Nearly a third of all long term absences from the workplace are due to cancer. With over 2 million people suffering from cancer in the UK and more than 300,000 new cases are diagnosed each year. Research carried out by Oxford Economics exposed that within the UK 560,000 people who have cancer are in full time employment.

People tend to react differently when diagnosed with cancer. For some people it is a real fight and they have a desire to carry on with life and ‘working’ becomes an important part of the routine within the recovery stages. 28% of people diagnosed with cancer have stated that ‘work is important to their sense of identity’.

The research undertaken also identified that 63,000 employees, who are also fighting cancer, would like to return to work but struggle with a lack of support – further to this one in five employees felt that their employer could have done more to understand their needs.

With an estimate that by the year 2030, 4 million people are going to be living with cancer, 1.1 million of those being full time employees, it is important for businesses to start planning for their employees well fair. Not only so that they unwell employee can be supported but also so that the business can still operate.

A group critical illness policy will act as the go between employee and employer. The employee can be provided with the best treatment options available as well as employee assistance programmes which will provide help for a range of personal issues to help reduce stress and improve their quality of life and ultimately provide support in returning the employee to work.

A Critical illness policy is an affordable employee benefit, as well as being simply to set up. There is no health or pre-existing conditions to declare. Critical illness cover can also provide peace of mind to the employer that in the event of one of their employees is diagnosed with a critical illness such as cancer that the business can help support them through a difficult time.

Are you an employee? – ask your director about critical illness cover today.

Are you an employer? Don’t wait for the unexpected – act now and speak to a member of the BDHL team.

Together, we will find the most appropriate plan, to ensure that in a difficult time the only focus is to get better. +44(0)1892 891900 or