Group Trauma (Crisis Cover) Insurance
Provides a lump sum payment in the event of a serious critical health condition (e.g. heart attack, stroke, cancer, major transplant surgery, paraplegia etc.). Although the sufferer may recover medically, the impact of the illness on their finances can be devastating.
A superannuation plan can be designed for your organisation which will place it at the competitive edge of its industry. By benchmarking benefit levels to those of other organisations which compete in the same pool for staff, and formulating a benefit design which exactly corresponds with your organisation's needs, you can ensure that this increasingly important component of compensation does not leave you trailing in the marketplace.
The formulation of a design for an employee superannuation scheme is the result of careful research and an understanding of what the organisation is attempting to achieve. It means identifying the specific types of benefit which are most valued by staff, whether by staff survey, focus groups or other means.
It also means identifying the specific types of benefits which are of most value to the organisation, not simply from a human resource perspective, but from financial and operational viewpoints.
The ultimate benefit design which is formulated for an organisation's insurance plan is embodied within a detailed design specification. That design specification forms the basis of the documentation required for a competitive market tender.