The SME Benefits Plan is a flexible benefits package, with three core benefits that can be tailored to meet your personal circumstances and needs. It provides you with financial security and peace of mind by protecting your health, your income and your family.
A Replacement Income
If you’re unable to work due to serious ill-health, this will likely impact on your business as well as your personal finances. A suitable Income Protection plan can be arranged to provide you with a replacement income in such circumstances, for anything up to 70% of your earnings. This can help you to meet your monthly financial commitments until such time as you are fit and able to return to work, or until you reach your retirement age, whichever occurs soonest.
A Tax-Free Lump Sum
Payment to your financial dependents in the event of your premature death. The loss of a breadwinner in any family will have serious consequences for those left behind. In addition to the emotional suffering, this can cause financial hardship due to the loss of family income. A suitable Life Assurance policy can be put in place to provide your loved one’s with ongoing financial security and peace of mind. Benefits can be arranged in the form of a tax-free lump sum payment or a regular income.
Private Medical Treatment
With the NHS under increasing pressure, if your health suffers and you need medical treatment, relying on the NHS could cause delays to your recovery and unnecessary disruption to your business. Private medical cover can be arranged so that instead of waiting on the NHS, you get prompt referral to a specialist consultant, quick access to a private hospital and treatment at a time that suits you. This can help you get back to health and back to work with the minimum of disruption to your business and life.
If required, the above benefits can also be arranged for your co-workers within a 'group plan'. Doing so not only demonstrated that you care about the well-being
of your team, it can also aid the recruitment and retention of good quality employees.