'Support services' are not bolt-ons but integral to insurance offerings, says Paul Avis, and there are plenty of good reasons for employers and their advisers to promote them wherever possible
What matters more to the holder of an insurance policy? The peace of mind they receive from knowing they have financial benefits they can claim for them or their family? Or having access to things you can use on a day-to-day basis, mostly without being a claimant? It is a conundrum. No-one wants to claim for death, disability or the diagnosis of a serious condition so is the true value to be found in the support services insurers provide? ‘Support services' is how we now describe the plethora...
Less than half of employers realise that GLA policies pay out regardless of whether death is work related
Overall increase of 21.1% for critical illness - highest level of growth since 2012
Firm paid almost 100% of group life claims last year
Long-term disability income increases following years of decline
Ron Wheatcroft reveals the wider implications of pension tax reforms on later life income and in particular employers' death-in-service cover