Employee Benefits is one of the most tailorable offerings in insurance. Howden consultants help you design a programme with no waste or undue complications, that makes sense to employees and business leaders alike – for the long term.
The good news is that tailoring needn’t cost you more.
Everything we do for you and your employees is powered by:
1. High-impact analytics and ongoing consultancy
With some insurance policies, you may never claim. This is not the case with Employee Benefits: most clients claim a lot. Which means significant negotiation with insurers, ongoing policy optimisation and risk management education, both inside your business and in the insurance markets.
2. Proactive risk management and education
Naturally, you’ll be wanting to do everything in your power to prevent premium price rises. That means getting on the front foot in educating your staff on a range of subjects. From healthy lifestyles to financial wellbeing courses and much more, we provide education initiatives that make a difference.
3. Prompt payment of claims
We have the greatest respect for your employees. We know that claims are personal, real-life situations that are among the most stressful your employees will encounter. So we only work with insurers who feel the same way, getting the support directly where it’s needed, fast.
Your Employee Benefits building blocks: what does good look like?
1. Private medical: the best care, no questions asked
Queue skipping is what people really want when they are sick and stressed. Early intervention can make a world of difference to the prognosis – as can getting specialist drugs that aren’t always readily available.
These are the terms we secure for all our private medical clients.
Because you don’t want to exclude any of your people, we have schemes that happily cover pre-existing conditions. That way, you don’t have to ask awkward questions and your talent is covered from day one.
2. Pensions: optimised performance, low maintenance
Increasingly, CFOs are looking at pension performance as a critical selection criterion. Is your pension scheme set up to deliver maximum returns for your people? With the average amount needed to retire with no money worries soaring – isn’t it time you took a second look?
Existing pension schemes are not reviewed often enough – we are often able to secure substantially better terms, either with the existing provider or by moving your pension pot elsewhere.
Financial education can be the difference between saving smart or ending up poor. That’s why we offer targeted workshops to clients’ employees of all ages.
3. Life Assurance: beneficiaries get a salary multiple lump sum
Should one of your employees pass away, you’ll want their family to be taken care of.
An agreed lump sum, usually a multiple of the deceased’s annual salary, won’t take away their pain but it will take away some of the pressure of losing a reliable breadwinner.
It’s particularly important the money reaches the beneficiaries quickly, in the most tax-efficient manner for the individuals in question.
4. Income protection
Income protection insurance usually pays out to the employer, who in turn pays their employee when they are off work with a long term illness or disability.
It works this way so that the employer can handle the PAYE tax obligations and pension contributions, as they normally would. Income protection pays their salary for a pre-defined period - another customisable element of the programme. Recommended lengths vary from industry to industry.
5. Critical illness: much-needed cash in life’s worst moments
When your employee is diagnosed with a life-threatening illness, their focus needs be on getting well, and that alone. Critical illness cover provides a cash lump sum to alleviate worries about financial commitments while recuperating.
6. Travel insurance and personal accident
One of the most popular add ons, well-chosen travel insurance brings peace of mind to both employee and employer.
The travel insurance we offer is very comprehensive, including useful extras like hire car excess waiver; free access to airport executive lounges when the plane is delayed; and of course, 24/7 claims wherever they are in the world.
7. Lifestyle benefits
Other benefits can help employees live a healthy, relaxed lifestyle. Some popular options include:
• Discounted health screenings
• Virtual GP
• Optical benefits
• Retail therapy discounts
• Discounted gym memberships
• Financial counselling helplines
This element of cover is infinitely tailorable.
Speak to us about the best options to help you get an edge on the competition.
8. International employee benefits
Compliance requirements are different all around the world – as are the insurance markets. Getting the arrangements right takes global know-how.
Howden is a truly global business with offices and trusted partners in over 90 countries. We’ll equip your programme to deliver results wherever in the world your people work.
How to claim
Initiating the claims process depends on your cover. Howden will step in and advocate in the event of any problems.
Private medical / health insurance
For medical claims, clients generally go direct to the insurer.
Income protection, critical illness, life insurance
We advise you contact Howden directly with claims in these areas.
Who provides the cover?
All successful Employee Benefits arrangements are unique – thus when we have decided on the elements of cover, we take them to market and secure the best price for your exact needs.