Critical illness
A lump sum to help you when you need it most
If diagnosed with a ‘critical illness’, such as a heart attack, stroke or cancer, you may face unexpected calls on your finances. This insurance policy pays out a tax-free lump sum to help you when you need it most.
You can choose cover of between 1x and 5x your annual basic salary. You can also choose to include cover for your partner.
Please note:
- the policy states what counts as ‘critical illness’
- medical conditions you already have at the time of buying the insurance can’t be covered
At a glance
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Employee funded
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Flexible benefit
Tax savings
The money you pay for some benefits (such as your pension) is taken from your salary before tax and National Insurance are deducted. This means you don’t pay any tax on the money you use to fund these benefits. For some other benefits (such as tax-free saving for childcare) the tax is added back on to your contribution when the benefit is provided.
Employee funded (EE)
A benefit which you choose to join at an additional cost to you.
Employer funded (EF)
A benefit that is funded by the Company, at no cost to you.
Limited time benefit
You can only sign up to limited time benefits during March, or within three weeks of joining SAP.
Flexible benefit
You can sign up for flexible benefits at any point during the year. Be aware that you can’t always make changes to these benefits at any time during the year, so check on the conditions when you sign up.
