Analysis – Page 4
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AnalysisHow to manage workplace dementia
If you read nothing else, read this…Diagnosis rates of people with dementia are increasing.Employers have a duty of care and a legal requirement to make workplace adjustments for staff with dementia. Employee assistance programmes, private medical insurance and group income protection can help to support affected staff.The mental illness hit ...
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AnalysisHow to align group risk with an employer’s total risk policy
If you read nothing else, read this…Most risk management and insurances are generally handled by risk teams, but people-related products, such as group risk cover, often remain with HR or benefits departments.People-related risk can represent a business risk to the organisation, particularly if the employer’s pay and reward strategy cannot ...
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AnalysisThe impact of the government's Health and Work Service on group health benefits
If you read nothing else, read this…The Health and Work Service aims to help employees on sickness absence to return to work.The service could help providers and employers to create new wellbeing initiatives.But conflict could arise when an employee goes through the referral process.The service aims to provide occupational health ...
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AnalysisWhat does the future hold for group risk benefits?
If you read nothing else, read this…Life assurance is expected to continue to dominate employers’ group risk focus for the next few years as they auto-enrol their workforces.In a new trend, organisations are separating their pension provision and life assurance cover.An ageing workforce does not necessarily mean higher group risk ...
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AnalysisBenefits offered to staff based outside the UK
Sample: Respondents responsible for compensation and benefits in their own organisation, which offer benefits to staff based outside the UK (80)Source: The Benefits Research 2013, Employee Benefits, published May 2013.
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AnalysisHow to support employees affected by cancer
If you read nothing else, read this…Employees often remain in work after their cancer diagnosis.Employers may be required to make reasonable adjustments to support an employee’s return to work.Line managers require training about how to communicate with staff affected by cancer.A common mistake some employers make when selecting employee benefits ...
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Analysis
Five top tips for getting the most from a group risk provider
If you read nothing else, read this …It is important to check out the insurance extras offered by group risk providers.Employers should question providers about the group risk market and what additional benefits may be available to them.Industry changes, such as pensions auto-enrolment, can present an opportunity to review a ...
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Analysis
Critical illness insurance is in demand
If you read nothing else, read this:Take-up of group critical illness insurance has been increasing steadily.If the cover is below £250,000, there is no medical underwriting, reducing administration costs.Flexible arrangements may be the best way to offer critical illness cover.The take-up of most group risk benefits has stuttered during the ...
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Analysis
How SMEs can offer group risk benefits
If you read nothing else, read this…The group risk market has historically not been suited to small and medium-sized enterprises (SMEs) because of the relatively high cost of products.Lack of product choice has resulted in many SMEs emulating medium and large firms’ plan designs, resulting in them offering over-generous employee ...
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Analysis
Group risk: Income protection versus life insurance
If you read nothing else, read this… Television advertising has boosted employer awareness of group income protection (GIP), but life cover remains far more popular. GIP premiums tend to be more expensive than life cover, but the product can reduce absenteeism costs significantly. A trend towards limited-term GIP could make ...
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Analysis
Group risk: Limited-term group income protection
If you read nothing else, read this . . .Limited-term income protection policies are a cheaper alternative to traditional products that pay through to retirement by offering a set payment period, such as two, three or five years.Premiums for limited-term products are, on average, 40-45% less for a plan that ...
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