Employee benefits are products and services given to employees of a business and paid for by the employer.
An employee benefits scheme can encompass a range of perks including a pension, as well as insurance products such as:
Most Group Insurance products provide cover for a collection of individuals under a single policy. This allows employers to give their workers valuable cover in an efficient and cost-effective manner that’s easy to manage.
Employers can choose how much cover to give their employees and with some products even have the option to extend cover to employees’ families.
There are a vast array of employee benefit options to consider each having their own impact on the cost and level of cover provided.
The insurance benefits you choose to offer your employees should, first of all, align with the needs of your workforce.
Ultimately, the best employee benefits don’t have to be lavish or expensive. What matters most is that they are relevant and are valued by your employees.
The best course of action would be to speak to your employees and discover where their priorities lie as it’s no good providing benefits that won’t be used or valued.
It’s only after this you can begin matching their needs with the employee benefits available and your budget.
Employee Benefits Expert at Drewberry
As well as benefits for your employees, there are benefits you can take out to protect the health of your business should a key individual within the company die or suffer a critical illness.
This might be to ensure business continuity, to enable the remaining shareholder(s) to buy back an absent shareholder’s shares, or to repay an outstanding business loan.
If you are concerned about the health of your business and are looking for a means to protect it, there are several benefits that you can purchase through your business to ensure business continuity should a key person die or become seriously ill.
Considering business owners will face the same problem if an important person falls critically ill just as they would if they died, it makes sense to consider adding Critical Illness Cover to your business Protection.
Doing so will ensure that if the person becomes severely ill and perhaps is unable to work again, the company still receives a payout just as if they had passed away.
Business Protection Expert at Drewberry
Getting quotes for employee benefits is not as simple as it for personal insurance products.
It’s not possible to find quotes for group insurance policies on a comparison website or an online calculator. This is because there are so many details that factor into the cost of a policy.
In order to get an accurate employee benefit quote you will need to provide:
Getting employee benefit insurance quotes can be a long winded process. It often involves going to providers one by one.
To make the process easier our Employee Benefits Consultants do all the heavy lifting and provide a recommendation report comparing all the relevant options.
Head of Employee Benefits at Drewberry
Putting together the right employee benefits package can be a difficult task, as is finding the right balance between cost and cover.
At Drewberry, our dedicated experts will collect and compare employee benefit quotes for you from across the entire UK market and provide a recommendation report detailing best insurance solutions for your circumstances.
We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to talk to us.
If you need any help putting together a competitive employee benefits plan please don’t hesitate to pop us a call on 02074425880 or email email@example.com.
Director at Drewberry
I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.