Ensuring value for money in the world of employee benefits is inherently important to employers, and will become increasingly so now the government has changed its approach on salary sacrifice. Making the most of the benefits already in place is going to be essential. GRiD spokesperson, Katharine Moxham, and other GRiD members give some pointers for advisers to share with employers on getting best value out of their group risk spend.
Group risk protection policies (employer-sponsored life assurance, income protection and critical illness) are potentially some of the most highly-valued and cost effective, but GRiD's experience and research have shown that employers don't always make the most of them, so try asking these questions. Do you know what you have bought? Group risk policy documents are legal instruments so employers need to ensure they understand the terminology and how best to use their purchase. Advisers and providers are on hand to help with this. Barry Waring, Group Risk Sales Manager, Omnilife adv...
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