Around 2.7 million hospital admissions each year are caused by accidents at home – Susie Colley, WCHC
What you get
- Cash sums in event of accidental injuries
- Payment per night for hospital stays as a result of injury
- Option to include unlimited numbers of children for one fixed price
- Benefit can help with childcare costs, enabling employees to get back to work sooner
- Option to cover UK Healthcare Workers for occupational hazards
- It could replace Income Protection and Life Insurance for those who can’t afford it
- Funeral benefit and lump sum payout in the event of an accidental death
- Medical history is disregarded, cover starts instantly
Accident Cover
Accident Cover is a simple and affordable staff benefit which awards cash to your employees if they’re injured in an accident.
With cash per night for hospital stays and the ability to extend cover to all the children in the family for a flat rate of £5 or less, Accident Cover can help your staff get back to work sooner if someone in the family is hurt. What’s more, the policy operates regardless of medical history, is effective from the moment you take it out, and you can claim as many times as you like.
Policies start at just £7 a month, and extended cover for any number of children is from £1 a month. Benefit from Accident Cover can help with childcare costs or carers should another member of the family be injured.
For your employees, Accident Cover offers peace of mind for family accidents and a useful lump sum to help them on the road to recovery should they be injured themselves. Some of the sums are life changing amounts, making Accident Cover a cheaper but good alternative to Income Protection or Life Insurance for those who can’t afford a full set of policies.
Take a look at the options here or call us for advice on:
FAQs
No, this plan has nothing to do with private healthcare. For private treatment, a Corporate Health Plan is best.
Accident Cover simply pays out a lump sum a short while after claiming for any accidental injury. Claimants will still be treated by the NHS but may receive money for hospital stays alongside the lump sum for the accident.
Protection can be offered on a sliding scale from 1 to 5 units. The more units, the higher the level of benefit your employees will receive. For core cover, policies start at £7 a month for 1 unit, up to £35 a month for 5 units of cover. You can add children (as many as each family has) for a flat fee of between £1 and £5 a month. That means whether an employee has one child or five, you still only pay once, yet they can claim on behalf of them all.
Additionally, if you employ UK Healthcare Workers, you can add work-based cover for between £1-5 per month. This protects them from occupational exposure to HIV, septicaemia caused by MRSA, Hep C, TB, Hep B and Clostridium Difficile.
No, despite paying the premiums for the policy, you, as the employer, are not entitled to receive any of the benefits available under the policy. Should the policyholder – ie your employee – suffer an insured event, the eligible benefit will be paid directly to the employee, or where the benefit has been assigned, to the designated beneficiary.
By paying for an employee’s individual insurance policy, you are providing a “benefit in kind”. As a result, you will need to report the payments to HM Revenue and Customs accordingly. The premium payment should also be included in the policyholder (your employee’s) tax calculation which could result in a reduction in allowances and a greater tax liablity for the policyholder.
Accidental death is covered in all plans and pays out between £50,000 and £250,000 upon the death of anyone under the plan. This represents a rudimentary form of life insurance which would benefit the relatives of the deceased.
Additionally, if death occurs within the first year of the policy, premiums are refunded, and if after the first year, a benefit is paid of between £1000 and £5000 to help with funeral costs.
Hospital stays are covered by the plan – as long as they are staying as a result of an injury.
Illnesses are not covered by the plan. There is one exception here – if you have extended the plan to cover the employee’s children, they receive a cancer benefit.
Employees must be between 18 and 60 to take out the Accident Cover policy. Cover will end on their 70th birthday or if you receive total permanent disability benefit, or accidental death benefit.
Children covered under Child Cover must be aged between 6 months and 18 years but this can extend to 23 years old if unmarried and still in full time education. They must be a UK resident.
Crucially, Accident Cover has no underwriting so they are able to take out the policy regardless of your medical history.
Life Insurance
Need to protect your mortgage and provide for your family if someone dies?
Read More Income Protection
Want to protect your income in case an illness forces you to stop work?
Read More Critical Illness Cover
Want to receive a lump sum to help with costs if diagnosed with a critical illness?
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