They're popular. They're effective. And they're not as costly or complex as your clients might think.
Employers know that flex schemes are good things. Research by Employee Benefits magazine with employers in 2006 showed that 35% of companies offer some form of flex scheme, and 24% are actively considering it. And a full 82% agreed that a flexible benefits plan recognises the diverse needs and values of the workforce. But many are still put off by the perceived cost and complexity of administration.*
They shouldn't be. Whatever the size of scheme, we've got a flex solution:
- between 50 and 500 lives - the Employee Protection Menu
- over 500 lives - our full flexible benefits proposition
We're an experienced flex provider
We have a long and successful history of writing group risk products as part of flexible arrangements, managing more than 200 policy types in over 150 schemes. We offer a range of core benefits which can be tailored to the specific requirements of a particular scheme, including:
- group life cover
- voluntary group critical illness cover
- group income protection cover
- spouse and partner life cover
Tailoring options include:
- flexible payment options
- core benefits
- benefit steps
- costing - single contribution or flat rate
- lifestyle events
Plus we can also help tell employees about the new benefits package, with a full range of literature and white label text for use at benefit fairs or on the company's intranet.
*Source: Flexible Benefits Research, Employee Benefits, Jan 2007.