Jelf: Benefits 'commonly overlooked' by employees

clock

Employee benefits that can be of benefit to dependents and spouses are commonly being overlooked and under-used by employees, Jelf has said.

The adviser firm found benefits such as counselling, access to EAPs, information on wellbeing issues and second opinions for medical diagnoses were not being used to their full potential.

Jelf also found more straightforward advantages of PMI schemes - like faster access to consultants and care - were not fully understood, with some employees unsure how to engage with their adviser or insurer to use them.

Jelf stated: "Some of these benefits will be offered to spouses and dependents, and employees need to be encouraged to make sure they understand the detail of their healthcare and protection packages and how they can benefit their families.

"Some older legacy PMI schemes even pick up the cost of premiums in the event of being out of work. When employees purchase supplementary cover privately they may be doing so unnecessarily wasting money, at a time when most people can ill-afford to."

Ronjit Bose, commercial director for Jelf Employee Benefits said employees did not engage with the detail of employee benefits packages until they or their family needed them.

"When employee benefits offer such valuable advantages to families, it's important that the detail is understood," he said.

"We're also calling on employers to play their part and make sure their communication packages fully explain the benefits for dependents."
Jelf has stressed that all benefits should be taken into account, including the pension and how it will affect the family.

Bose said: "When a company looks after an employee's family, engagement is enhanced; many companies may do this but just don't do enough to tell their staff that they do. Communication is the key."

Author spotlight

Nicola Culley

More on Adviser / Broking

Third of working adults are stressed about meeting their immediate financial needs: Fidelity

Third of working adults are stressed about meeting their immediate financial needs: Fidelity

Covid-19 pandemic sparks feelings of stress, anger, and fatigue

Nafeesa Zaman
clock 30 November 2021 • 2 min read
Financial planning and mental, physical health intrinsically linked: HSBC Life

Financial planning and mental, physical health intrinsically linked: HSBC Life

Advice also plays an important role in good mental and physical wellbeing

John Brazier
clock 24 November 2021 • 1 min read
Turnbull has held previous digital-focused roles with British Gas and The AA.

Reassured appoints James Turnbull as first chief digital officer

“Maximising this potential is my main priority”

John Brazier
clock 24 November 2021 • 2 min read

Highlights

COVER Excellence Awards 2021: All the winners revealed!

COVER Excellence Awards 2021: All the winners revealed!

Leading With Distinction

COVER
clock 03 November 2021 • 2 min read
COVER Excellence Awards 2021: The Night in Pictures

COVER Excellence Awards 2021: The Night in Pictures

A photo gallery from COVER Excellence Awards 2021, held at The Brewery, London, on 2 November.

COVER
clock 03 November 2021 • 1 min read
Gosia Bowling: The role of behavioural science in creating a menopause-friendly workplace

Gosia Bowling: The role of behavioural science in creating a menopause-friendly workplace

'The key to supporting menopausal women is creating a culture in which conversations are welcomed and expected'

Gosia Bowling
clock 02 November 2021 • 6 min read