Flexible Benefits

It's about having the right cover at the right time

We tailor our flex solutions

Our flexible benefits proposition provides employers with greater flexibility regarding their benefits design. Helping them to manage the cost of their employee benefits package, whilst offering their employees the flexibility to elect the cover that best meets their needs by giving them the option to elect a different level of cover from the choices made by the employer.

Typically employees will have the opportunity to review their level of cover once a year or at key life stage changes.

The benefits of a flexible benefits arrangement can include:

Flexibility

Gives employees the option of choosing their own level of cover that best suits their lifestyle and budget.

Differentiation

Stand out from the crowd! A good benefits package can help attract the best people.

Engagement

Offering employees choice in their benefits, can help improve engagement and employee retention.

Group Income Protection

Minimum (core) income benefit: 25% of gross salary.
Maximum income benefit: Up to a maximum of 80% gross salary.
Additional benefits: Employer’s NI & pension contributions.
Benefit units (steps): Set as a percentage of salary, between 5% and 20%.
Maximum number of units: 10
Minimum benefit payment terms: 2 years.
Benefit payment term extensions: 3, 4, 5 years, State Pension Age (SPA) or policy terminating age (max age 70).
Benefit election increases: Upon joining and at subsequent annual flex windows or lifestyle events, an employee can elect to change their level of cover or their benefit payment term.
Available to employers with 250 or more employees.

Group Income Protection flexible benefits technical guide

Group Life

Maximum benefit: 12x gross salary.
Benefit units (steps): Set as a multiple of gross salary.
Maximum number of units: 12
Benefit election increases: Upon joining and at subsequent annual flex windows or lifestyle events an employee can elect to change their level of cover.
Available to employers with 250 or more employees.