Small Business Health Insurance UK

A small business organization normally consists of 2 to 50 employees; and it is the endeavor of the whole organization that combines to bring success to the organization. When an employee falls ill, your whole organization will be affected and thus might put a negative impact on the output. Here, comes the benefit of purchasing a small business group health insurance policy(Small Business Health Insurance UK).

The cost of medical treatments is on a rise and for a simple treatment; you need to spend hundreds of pounds from your pockets. This might land you in a heavy financial burden. So many people avoid going to doctors and later on these small ailments turn into complications.

Same happens in a small business organization. Because of the high cost of medical treatments, the employees of a small business organization might not go to a specialist for routine check-ups. This might prove detrimental to the organization. A small business group health insurance will ensure that the employees in an organization are provided with adequate benefits to take care of their health.


Some years back small business group health insurance was not so common, because the rate of premium of these insurance policies were generally higher. But, these days there are many insurance companies that provide with cheap and affordable small business group health insurance. Otherwise, many a times it is seen that the premium is equally divided between the employer and his employees. In a small business group health insurance policy, the employees will be provided with a list of doctors and in any case of illness, the employee can consult those doctors. This way you can evade the tension of searching for doctors.

Apart from that many a times the employees’ family is also covered under small business group health insurance. Illness in one’s family can also affect the work of an employer. So with a comprehensive small business group health insurance policy the well being of an employee’s family can also be taken care of. Even an employer can avail the benefits of a small business group health insurance.

Before investing in a small business group health insurance, you need to do some research for yourself. You have to do an extensive research of the insurance market and later you can even compare the policies. After that you can buy the policy that is fitting into your budget. You can perform this task easily with internet facilities. You can also collect various quotes from the different companies and later on choose a policy that will suit you the best.

Small business health insurance is a viable option for anyone looking to cover their business and/or employees against the consequences of illness, injury and death. The advantages of small business health insurance are obvious to both employer and employee for whom this added reassurance might be the selling point of a job offer. From the employer’s point of view small business health insurance will prove an invaluable asset in making up any profit losses should an employee be unable to work on a temporary or permanent basis.

Basic models of small business health insurance

Private medical cover: Covers private as opposed to NHS medical care. This cover will be more expensive but means staff members will be treated quickly and conveniently thus minimizing the disruption caused to their work and your business.

Critical illness insurance: this can be combined with life insurance or paid for separately. This type of cover is often expensive so it is a big commitment but it covers employees in the event of the diagnosis of a serious illness such as cancer, even if they can carry on working.

Life Insurance: This covers your business against the death of an employee. This pays out either a regular income or a lump sum and such cover is often charged at reasonable rates considering the potential value of the product.

Should you loose a key share holder or partner to illness or death you can pre-tailor your small business health insurance policy to protect you and your company against it. Such cover will provide both the business and the employee (or beneficiary in the event of death) with lump sums proportionate to the value of their share. This provides for the remaining partners/shareholders and allows them to buy out the share, as well as the family of the person no longer able to work for the company.

Employer's Liability Insurance: Small business health insurance is an extremely useful option but not a necessity, whereas you are required by law to take out employers’ liability insurance if you employ anyone other than a member of your immediate family. This is designed to meet the cost of damages you may have to pay and legal fees that arise when employees are injured or fall ill because of their work. The only other occasion when limited companies are not required to take out employer’s liability insurance is when there is only one employee and he/she owns at least 50% of company shares.Essentially Employer's liability insurance covers your business for any legal fees or compensation payments that has to be paid out to a member of your staff as a result of damage caused by your company.

Key Man Insurance: When taking out health insurance for small businesses in particular, it is worth considering ‘key man insurance’ as your company could well be reliant on one or two crucial members of staff. This type of insurance recognizes such a possibility and will pay out a (usually pre-determined) lump sum to the business should you loose one of these people to illness, death, or with some policies; serious disease.


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