Also known as Group Permanent Health Insurance, these schemes provide a replacement income for your employees, up to a maximum of 75% of their current income (less State Benefits) if they are unable to work through accident or illness for a long period of time.
There are numerous schemes available and the cost depends upon the deferred period i.e. how long between the onset of illness and the start of the claim, and also what level of benefits are payable. The payment of premiums into such schemes are an allowable expense for Corporation Tax and are not treated as a benefit in kind for your staff.
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