The restrictions of general policies for individual businesses
When it comes to running a business, most managers and proprietors would agree that the key to success is finding and holding on to great people, and that it’s essential to demonstrate loyalty, commitment and encouragement to staff, for a company to thrive.
This can be done in a number of ways, but an important element is to ensure that you have quality employee benefits in place such as pension, life cover, disability and private medical insurance.
When you invest in your employees they recognise that they’re valued and supported, and you reap the rewards of their increased confidence and reliability.
It can be difficult to find the right benefit schemes to suit your individual business needs, to sit within your budget, and to give your employees the best rewards possible.
Businesses and staff are so individual that ‘off-the-shelf’ or ‘one-size fits-all’ group life policies may not suit everyone. Different members of staff may need varying levels of cover depending upon, for example, their position in a company.
A major issue for many businesses when setting up a life assurance scheme is the restrictions that can be applied to some staff due to existing medical conditions. This can mean that what was intended to be a company wide benefit is not available to everyone.
Belmont International can provide group protection policies for any size of company, with policies specifically developed and implemented to meet a business’s own budget. In addition, it’s possible to write life schemes for a minimum of three employees without medical underwriting, which enables both small and large businesses to offer this cover to their employees (subject to benefits being less than £500,000 per member).
If, sadly, an employee dies, it’s invaluable for you to be able to offer financial support to their family and dependants to meet both immediate costs, and offer future financial security.