Group risk benefits, that include employer-sponsored life assurance, income protection and critical illness benefits, have emerged as a must-have from the Covid-19 (Coronavirus) pandemic as we’ve seen a fundamental shift in attitude from “it won’t” to “it could” happen to me.
As well as paying out £218.7 million in Coronavirus-related death claims during 2020, according to Group Risk Development (Grid)’s interim Covid-19 claims survey 2020, published in March 2021, and the first half of 2021, as reported in Grid’s 2021 Covid-19 claims survey, the industry has supported employees through long Covid via group income protection targeted support.
Each group risk benefit has supporting services designed to fit a differing critical need, ie death, long-term illness absence, being diagnosed with a critical illness. Each is a must-have if an employer is truly going to support its people through the toughest of times.
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