We recognise here at CybSafe, that our people are our most valuable asset. So we’ve introduced Group Life Assurance Policy and Income Protection Insurance. We want to ensure that you are well looked after, should the worst ever happen.
This policy provides a benefit of 2 x Basic Annual Salary. Cover will be in place whilst you are a permanent employee of CybSafe Ltd and until you reach 70. Any benefit payable would be paid to your beneficiaries in the event of your death.
Under an Excepted Group Life Assurance arrangement, any lump sum benefit payable does not count towards an individual’s Lifetime Allowance. The Lifetime Allowance is the maximum value of benefits that can be held under a registered pension scheme without being subject to the Lifetime Allowance charge upon payment. The current limit for the tax year 2022/23 is £1,073,100.
You will need to keep your nominated beneficiaries up to date. Please complete the attached Death Benefit Nomination Form and share it with PeopleOps securely (This will be sent to you to complete in BambooHR for digital signature)
Death Benefit Nomination Form.pdf
CybSafe has established a Group Income Protection scheme for all employees. The scheme provides a benefit of 75% of your basic annual salary, payable in the event that you are unable to work due to illness or injury for more than 13 weeks. Any benefit will be paid to you through payroll by CybSafe and is subject to tax in the usual way.
Benefit payments may continue for as long as you remain unable to work due to illness or injury, until no later than 24 months past your date of first absence or 70 – whichever comes first, subject to you remaining employed by CybSafe.
As part of the Group Income Protection (GIP) all eligible employees receive WeCare support services, Your healthcare portal that you can access anywhere, anytime. So what's included?
Get in touch with WeCare on 0800 917 9330