Fully Insured |
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A fully insured arrangement ensures no risk to the company. The agreed premium equates to the company´s total costs for the contract period, giving complete peace of mind.
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Key Information
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Fully insured contracts enable a company to know at the outset that their rates per member will be fixed for the duration.
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This option protects against unexpectedly high claims allowing the company to budget with confidence.
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Benefits can be tiered and bespoke to the individual requirements of the company.
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Cost Plus |
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Cost plus funding contracts compare the final claims spend to the estimated fund set at the start of the benefit year. Resulting surplus/deficit is rebated or recovered following the closure of each benefit year.
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Key Information
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Choosing an acceptable and appropriate level of risk for the company.
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Enables a lower premium and the company benefits from savings made in the lower claiming years.
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Company´s total liability limited typically to 125% of the estimated claims fund.
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Corporate Deductible |
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Corporate Deductible is an innovative product allowing companies to take out a large corporate excess, resulting in significant savings.
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Key Information
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The Corporate Deductible can be set at two levels relative to the claims fund.
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An upper level is equivalent to a Cost Plus or Trust arrangement with a lower level being comparable to Fully Insured.
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IPT is only paid on the premium and not on the deductible amount, so the IPT on the corporate deductible is saved.
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