Zurich Insurance Group has launched its Group Critical Illness product, a solution that completes its suite of Group Risk products.
The product aims to provide a range of benefits to support employers and employees alike.
With a maximum benefit of up to £500,000, employers can offer protection not only for employees but also for their spouses or partners, with the option to extend child benefit.
Child coverage provides 25% of the member’s benefit, with flexible options for maximum benefits, including £25,000 or £50,000 for child cover, and up to £500,000 for spouse or partner cover.
Total Permanent Disability (TPD) cover is also part of the offering, and Zurich allows employers to choose from three different definitions: Own Occupation, Suited Occupation, or Activities of Daily Living, depending on the employee’s role and circumstances.
The standard product covers 15 critical illnesses and surgeries, including major conditions like heart attack, cancer, and stroke.
Additionally, Zurich offers an extended package that includes 27 more critical illnesses and surgeries.
Importantly, child-specific coverage is automatically included, addressing 11 defined illnesses and surgeries, as well as child intensive care.
One unique aspect of the product is the inclusion of Cancer Drug Fund coverage, which can provide up to £100,000 worth of cancer treatments.
To further support policyholders, Zurich has set up a pre-claim support team to assist with any questions before a claim is made.
Beyond the core financial benefits, Zurich’s Group Critical Illness product includes access to additional services such as Employee Assistance Programs (EAP), Virtual GP services, and Second Medical Opinion services.
These services provide holistic support to employees, offering practical assistance in navigating health issues beyond the insurance payout.
Nick Homer, head of market management at Zurich, said: “Launching Group Critical Illness cover establishes Zurich as a Group Risk provider capable of offering the full suite of products.
“It changes the conversations we can have with advisers and employers and means that we have an enhanced response to emerging health and environmental issues.”
He added: “This has been a long-term strategic aim, so we have been extremely diligent in developing this proposition.
“We’ve designed it to be flexible to give employers the opportunity to match or enhance their existing benefit design, whilst also remaining aware of the current cost challenges facing businesses.
“Employers can include additional conditions such as spouse/partner cover, increasing the maximum child benefit and cancer drug fund cover as extra features, to allow employees to tailor their benefits to meet their personal needs.”
