A heart attack ruptures a person’s whole life – including their ability to perform at work.
Did you know?
²Majority of SMEs vulnerable to key person loss: Legal & General (covermagazine.co.uk)
³Health and safety statistics (hse.gov.uk)
Heart attacks don’t usually happen with no warning; there are tell-tale signs that everyone should listen to, like chest pain, feeling weak, light-headed or faint, experiencing shortness of breath, and more. Employees can have their cholesterol checked at their pharmacy, through their GP, or via the NHS Health Check service which is free to people aged 40-74.
How to reduce the risk of a heart attack
Making lifestyle changes is the best way to reduce your risk of having a heart attack – or, if you’ve already had one, to reduce your risk of it happening again. There are three main steps you can take to help reduce your risk of a heart attack (and stroke):
A preventative approach is the most effective one, but that doesn’t mean your company needs to invest in an expensive benefits programme. There’s a range of support available, from light-touch to comprehensive, but they all come with valuable benefits employees can use in their day-to-day life.
Business protection products such as key person and shareholder protection help to protect your business should the worst happen to key employees, but that’s not all it is. Business protection is loaded with useful benefits – that are either free of charge or come at a low cost – that your workers can take advantage of in day to day life, like:
At an average cost of only 0.5% of each employee’s income per month, providing some (or a reasonable level of) income protection is low-cost and ensures that your employees continue to have an income if they can’t come to work. Many policies are also full of useful benefits like:
Group critical illness pays a tax-free lump sum to an employee who is diagnosed with a critical illness, including a heart attack, cancer, or stroke.
This type of benefit can be particularly meaningful to employees, reassuring them that they’ll have the funds to cope with any financial problems that might arise as the result of a serious illness.
Group critical illness is affordable for the employer, and is normally an allowable business expense for corporation tax.
Group life insurance is one of the most common employer-sponsored benefits, and is often the only way many employees get access to life insurance cover.
This cover gives employees peace of mind knowing that, should the worst happen, their families and dependants will receive a tax-free lump sum to help cover financial commitments.
There’s no ‘one size fits all’ when it comes to private medical insurance (PMI) because no two businesses are the same. Fortunately, there’s a range of help available to you:
If you have any questions, or would like more information, contact your usual insurance advisor who can connect you with our Group specialists.
Date: March 14, 2023