Group Risk
It can commonly be misunderstood on exactly what 'group risk' covers. In brief group risk encompasses group life, group income protection and group critical illness cover:
Group life - Provides benefits on a member's death, either in the form of a lump sum, as pensions to spouses, civil partners, and/or financial dependants, or both. An alternative, and perhaps more accurate name is 'death in service benefits'.
Group income protection cover - Provides a continuing income in respect of members who are unable to work as a result of illness or accident. Potentially income payments can be provided right up to the point of retirement when the member starts drawing a pension. Historically this 'group income protection' has often been referred to as ' group permanent health insurance.
Group critical illness cover - Provides benefits, usually in the form of a lump sum, to scheme members who are diagnosed as suffering one of a list of specified medical conditions.
In the majority of cases the group of people covered and the body insuring the benefits are employees and employer. Kingfurness specialise in identifying and assisting employers who want to provide any of the group risk benefits for their employees. Once the potential benefits have been identified we will fully review the whole market and recommend suitable policies based on comprehensive criteria. Kingfurness will work closely with the employer and assist in the underwriting and application process through to completion.