Group Personal Accident, Sickness and Business Travel
Opportunities
- Personal Accident cover does not feature very highly on my list of priorities
- We already have Life cover in force
- My Liability policy would protect my employees
- We're a small company. We don't want to pay out high premiums for something unlikely to happen
- We already have Private Health Insurance (PHI) cover in force
- This is just an additional employee benefit which we don't want to provide
- We don't need the cover - we've never had an employee sustain an injury at work. Our premises are fully checked by the HSE
Personal Accident cover does not feature very highly on my list of priorities
Personal Accident cover can possibly be viewed as having less benefit than other classes and is often one of the first to be discarded in times of rising premiums and financial constraints.
Personal Accident is, however, a low cost, low maintenance cover that can be tailored to meet (and respond quickly) to the clients business needs.
It provides direct protection for the client's most valuable asset - their staff.
We already have Life cover in force
Life cover only pays out when you die.
Statistics show you are more likely to be seriously injured from an accident, than die from the injuries.
The lump sum benefit payable under a Personal Accident policy would offset the additional costs incurred from a permanent disability.
My Liability policy would protect my employees
An Employers Liability policy only responds where there has been negligence on the part of the employer, and involves a work related accident.
If an employee were to have an accident outside of work, there would be no claim under the liability policy but the client would still be directly affected.
Statistics show that you are five times more likely to have an accident outside of work.
We're a small company. We don't want to pay out high premiums for something unlikely to happen
HSE UK statistics for 2002 to 2003 show that at work there were:
- 182 deaths
- 28,426 major accidents
- 126,004 accidents resulting in absence from work for more than three days
We already have Private Health Insurance (PHI) cover in force
PHI cover is a form of income replacement and usually has an excess period of six months.
It does not normally make lump sum benefit payments, and is payable to the employee not the employer.
This is just an additional employee benefit which we don't want to provide
The client will be taking out the Personal Accident policy and will therefore receive the benefits.
It is up to the client as to whether they pass this benefit on to the insured person as an employee benefit, or retain the benefit themselves to offset other costs incurred by the business.
We don't need the cover - we've never had an employee sustain an injury at work. Our premises are fully checked by the HSE
Statistics have shown that on average more than 95% of all deaths due to external causes occur outside the workplace, and could be covered by 24 Hour operative time cover.
