Spectrum Financial Advice Guide to Group Critical Illness Insurance

What is group critical illness insurance? Learn everything you should know about group critical illness cover in our comprehensive guide to group critical illness protection.


  1. Spectrum FA Guide to Group Critical Illness Insurance
  2. What are Group Protection Schemes?
  3. What is Group Critical Illness Insurance?
  4. How Does Group Critical Illness Cover Work?
  5. What Conditions are Covered by Group Critical Illness Policies?
  6. How Much Does Group Critical Illness Insurance Cost & Who Pays the Premiums?
  7. Who Should Have Group Critical Illness Protection & Why?
  8. How Can Spectrum FA Help You with a Group Critical Illness Policy?

Spectrum FA Guide to Group Critical Illness Insurance

Ensuring a company’s smooth running, productivity and profitability, employees are the very heart and most valuable asset of any business. As no business, regardless of its size or industry, can function without them, it is imperative for employers to look after these invaluable assets – and group protection schemes like group critical illness protection, for instance, are the perfect solution. But what are these schemes and what is group critical illness insurance? Learn everything you should know about group critical illness policies in our comprehensive guide to group critical illness cover.

Contact Spectrum FA for more information about group critical illness and/or other group protection insurance options.

What are Group Protection Schemes?

Offered by many companies as part of a comprehensive employee benefit package, group protection policies are designed to provide employees with peace of mind that, if they should unexpectedly become seriously ill, sustain an injury or pass away (depending on the selected type of policy/cover), the employee/their families will be provided for.

Policies currently available for group protection include group critical illness insurance (which we will focus on in this guide), group life insurance  and group income protection insurance.

To learn more about group life/income protection insurance, please follow the provide links to our respective guides and/or contact Spectrum FA today.

What is Group Critical Illness Insurance?

A critical illness often leaves an employee unable to work for a long period of time and can have a significant, often devastating impact not only on the affected employee, but on their entire family.

Group critical illness cover is designed to diminish this impact. Learn more.

How Does Group Critical Illness Cover Work?

Taken out by you (your company) on behalf of your employees, group critical illness insurance will pay out a pre-determined lump sum in the event of a named employee being diagnosed with one of several conditions/illnesses specified within the policy’s terms & conditions (please see below for details).

This lump sum can then be used to cover rent/mortgage payments; loan/credit card repayments; utility and other household bills/expenses, etc.

As the policyholder you (your business) get to decide which/how many of your employees will be named on the policy, as well as the:

  • Cover level, which is usually either calculated as a multiple of employees’ salaries or offered as a “flat benefit” (usually consisting of pay-outs ranging between £25,000 to £250,000+)
  • Add-ons/optional extras to be included (in addition to standard ranges of covered conditions, many policies also offer cover for various other conditions and/or other benefits as optional extras)

Contact us to request a no-obligation review and/or learn more about available optional extras.

What Conditions are Covered by Group Critical Illness Policies?

Most group critical illness schemes always cover the conditions set as standard by the ABI (Association of British Insurers), which include:

  • Coronary artery bypass grafts, strokes & multiple sclerosis
  • Numerous specific cancer types (as defined within policies’ terms & conditions)
  • Major organ transplants, kidney failure & heart attacks (major)

Further conditions offered by many policies as part of their ‘standard’ set of conditions and/or as optional extras may consist of:

  • Advanced stage liver and/or respiratory failure
  • Aorta graft surgery, bacterial meningitis and/or benign brain tumours
  • Aplastic anaemia, traumatic brain injuries and/or cardiomyopathy
  • Creutzfeldt-Jakob disease, repairs to/replacement of heart valves
  • Coma (with permanent symptoms), encephalitis and/or permanent deafness
  • Dementia/Alzheimer’s disease, open heart surgery/median sternotomy and/or permanent blindness
  • Parkinson’s disease and/or permanent loss of a hand, foot or the ability to speak
  • Motor neurone disease and/or HIV (if infections were contracted through accidents at work, physical assaults or blood transfusions)
  • Multiple & permanent system atrophy, eyeball removal and/or primary pulmonary hypertension
  • Spinal strokes, progressive (& permanent) supranuclear palsy and/or systemic lupus erythematosus (when accompanied by significant/severe complications)
  • Strokes with symptoms lasting 24 hrs or more, total permanent disability and/or third degree burns (covering at least 20% of the face, the head and/or other body surface areas)
  • Total permanent paralysis and/or diverse other significant illnesses/condition

Please do not hesitate to contact us for more detailed information on the types of conditions likely to be covered by the various policies and providers.

How Much Does Group Critical Illness Insurance Cost & Who Pays the Premiums?

Although a group critical illness policy is taken out on behalf of your employees and those employees/their families are the beneficiaries, you, the policyholder, will be responsible for payment of the premiums.

The cost of these premiums will be determined by the:

  • Number of employees you wish to cover
  • Cover level (size of pay-out) you set
  • Optional extras you choose to add

Most policies will also take named individuals ages and occupational risk into account.

Occupational Risk:

Some occupations obviously expose workers to greater risks of potentially serious injuries at work, stress-related illnesses, infections and/or physical assaults than others. Occupations classed as high risk by insurers may therefore, among others, include:

  • Protective services – police, fire services, armed forces, security & prison officers
  • Civil engineering, scaffolding, construction & roofing
  • Agriculture (forestry & farming), commercial fishing, & oil industry (i.e. rigs/platforms, refineries)
  • Carpentry, plumbing & electrical services/contractors
  • Manufacturing (especially if heavy machinery and/or volatile chemicals/explosives are involved)
  • Waste management, mining & haulage/delivery
  • Vehicle repair/maintenance & private/public transport
  • Nursing, paramedic/ambulance & other health/social care services
  • High-level management, public administration/benefits services & teaching

Taking all these factors into consideration, finding a cost-effective policy may seem like a complicated task – Spectrum FA will advise you on the most suitable policy. Find out how by requesting your company’s free, no-obligation review today.

Who Should Have Group Critical Illness Protection & Why?

Giving your workforce peace of mind in the knowledge they/their families will be adequately provided for in the event of a critical illness, offering critical illness cover as part of your employee benefits, schemes will:

  • Improve their concentration, morale and attitude towards you/work, which will in turn increase their productivity and consequently your business’ profitability
  • Increase their loyalty to you/your company, which will increase their likelihood of remaining within your employment
  • Enhance your business’ reputation as a supportive, caring & responsible employer, which will make attracting/recruiting highly skilled/talent additional employees significantly easier

As such, taking out a group critical illness policy is beneficial for both employees and employers – and and area all companies, large or small, should consider.

Are you ready to protect your employees with group critical illness insurance? Request your business’ free review now.

How Can Spectrum FA Help You with a Group Critical Illness Policy?

Combining our specialist knowledge and experience of group protection insurance, we understand that every client’s needs are unique and we offer advice & guidance that is tailored specifically to each individual company’s specific requirements.

Whether your company is business with no more than two or three employees or a huge corporation with a workforce of 1000s, we will review your company’s needs and circumstances – free and without any obligation.

We will advise and recommend suitable policy/scheme with regards to the type of policy, cover levels and which optional extras you should consider. Once you have decided to proceed, we will arrange this policy for you, with the chosen provider.

Underwritten by the most well-known and trusted insurers in the UK insurance industry, any policy we recommend will be tailored to meet your/your workforce’s requirements and offer comprehensive cover at the most competitive rates available.

Do you recognise your workforce’s true value to your company and wish to look after them with group protection insurance? Request your free review now.