Time to rename group risk benefits? – Canada Life

Employees do not understand terms such as ‘group critical illness’ benefit or ‘group income protection’ and significant numbers would like to see these benefits renamed, according to research from Canada Life.

• 22% of employees do not feel the name ‘critical illness cover’ is easy to understand.
• Half of all respondents in the research agreeing that ‘serious illness support’ would more clearly communicate the purpose of this benefit.
• Over 40% of employees also feel that ‘long-term sickness salary’ better communicates what group income protection does, whilst names including the words ‘sick pay’ in the title are also popular (for example, ‘sick pay support’).

Paul Avis, Marketing Director at Canada Life, said:

‘Group risk products are designed to provide a safety net for a number of health and wellbeing issues that can affect anyone at any time . . . We have to step away and look at the fundamentals though: what do we even call them? Group protection? Group risk? Group insurance? If we’re honest, the way we use the term ‘group’ means nothing to the person in the street. So where does that leave us?’