Zurich has entered the group critical illness (CI) market completing a full suite of group risk products.
Zurich told Health & Protection that while the cover is paid by for employers, it can operate as a flexible benefits/voluntary benefits arrangement where employees select the benefit amount and pay their employer, via salary sacrifice, for the cover.
Product features include:
- Maximum benefit of up to £500,000.
- Cover can be provided for a spouse or partner.
- Child benefit providing 25% of the member’s benefit.
- Flexible maximum benefits with the ability to choose between £25,000 or £50,000 child benefit and £250,000, £375,000 and £500,000 for the partner cover.
- Total permanent disability cover can be provided on any of the following definitions: own occupation, suited occupation or activities of daily living.
- Standard critical illnesses providing cover for 15 defined illnesses and surgeries, including heart attack, cancer, and stroke.
- Additional critical illnesses providing cover for an extra 27 illnesses and surgeries.
- Automatically includes child critical illnesses providing cover for 11 specific child illnesses and surgeries, including child intensive care cover.
- Cancer Drug Fund cover can be provided up to a total of £100,000 worth of drugs.
- Pre-claim support team to answer any questions before making a claim.
- Access to a range of additional support and services including an employee assistance provider (EAP), virtual GP and second medical opinion services.
Nick Homer, head of market management at Zurich, said: “Launching group critical illness cover establishes Zurich as a group risk provider which can provide the full suite of products.
“It changes the conversations we can have with advisers and employers and means that we have an enhanced response to emerging health and environmental issues.
“This has been a long-term strategic aim, so we have been extremely diligent in developing this proposition.
“We’ve designed it to be flexible to give employers the opportunity to match or enhance their existing benefit design, while also remaining aware of the current cost challenges facing businesses.
“Employers can include additional conditions such as spouse or partner cover, increasing the maximum child benefit and cancer drug fund cover as extra features, to allow employees to tailor their benefits to meet their personal needs.”