What are group risk products?
Group risk products are a type of employee benefit that includes products like life insurance, income protection and critical illness cover. Group risk products offer a range of benefits to both the employer and employee.
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Benefits to the Employer:
- Attract and Retain Talent: Offering group risk products can help an employer to attract and retain top talent. It is a highly valued benefit, and employees are more likely to remain with a company that offers such benefits.
Benefits to the Employee:
- Financial Security: Group risk products provide employees with financial security knowing that they are protected in the event of illness or injury. The life insurance benefit can also provide peace of mind for employees with dependents.
- Reduced Financial Stress: Income protection benefit can help to reduce financial stress for employees who are unable to work due to illness or injury. This can have a positive impact on their mental wellbeing.