I’m considering rolling out Group Critical Illness Cover for my employees across the company. Before I do, I was just wondering if you could tell me how much Group Critical Illness Insurance costs?
The cost of Group Critical Illness Cover will be dependent largely on your workforce, as various factors will impact the level of risk each individual poses and it’s hard to offer quotes without any information about who’ll be covered.
To obtain Company Critical Illness Insurance quotes, we’ll therefore need a small amount of employee data so the insurers will be able to accurately price the risk and determine the premium.
Insurers will want to know the below information for everyone who’ll be covered before offering Critical Illness quotes so they can calculate the risk and benefit and therefore the premium:
The only real factor you can change that affects the cost of Critical Illness Cover is the multiple of salary you’re offering. Lower multiples of salary will reduce the cost of cover (most insurers cover up to a maximum of 5 times an employee’s salary or a pre-determined ceiling, whichever is lower.
We don’t offer Group Critical Illness Insurance quotes online at Drewberry because there are a number of factors that can effect the price and we feel it’s always better sold alongside expert advice. That way, you can be certain you’re providing the benefit your employees need at a price sensible for your organisation.
If you have any further enquiries about the cost of Group Critical Illness Insurance or need any further help, please don’t hesitate to give us a call on 02084327333.
Head of Employee Benefits 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.