Hannah Foxley, Chartered Financial Planner – AKA Finance Girl. The Woman’s Wealth Expert
So far I have guided you through protecting yourself, your family, your business and your key people but what about employees? It is also possible to set up your own protection policies through the business.
By protecting your employees, you will make them feel more valued and in the event of illness will have greater control over getting them back to work in a timely manner if you have provided their benefits.
Protection policies for employees fall into the same categories as I discussed in my first blog and are:
- Life cover.
- Critical illness cover.
- Income protection.
- Private medical cover.
With people moving jobs much more readily these days, it is important to find ways to make your employees feel valued and as a responsible employer, I feel that it is important to consider protecting your employees.
A particular benefit of private medical cover is that you and your employees can be seen and treated much more quickly than would be possible on the NHS, thereby getting the employee or yourself back to work much more quickly. This undoubtedly will save the company money in the long run.
Corporate income protection providers tend to offer services to enable and encourage employees to get back to work after long periods of sickness, which again is very helpful to the business.
If you would like further advice as to how you can arrange protection for you and your employees through your business, please get in touch with me at [email protected], or call 07595 747969.
That concludes the journey through the world of protection; I hope your eyes haven’t glazed over too much! This is the first area of financial planning, which should be addressed. It is so important to protect yourself, your family and business in the event of sickness. It really is worth every penny that you spend on it, I can’t reiterate it enough, having learned the hard way.
The next area that I will tackle is the very topical area of retirement planning and the dreaded ‘P’ word.