Friends Life is extending its group cancer cover to companies with 50 employees or more.
When the benefit was launched in January 2015, a minimum of 100 employees were needed for a business to qualify for the cover.
Go deeper with GlobalData
However, the provider said after receiving a large amount of positive feedback from the market, it has decided to extend the policy.
Anna Spender, head of group protection proposition at Friends Life, said: "We were getting requests for quotes from smaller businesses and weren’t able to fulfil those requests. It became clear very quickly this is a benefit that SMEs are really interested in and I’m pleased that we’ve been able to react so quickly."
Group Cancer Cover was the first employer funded cancer-specific workplace benefit in the UK, according to Friends Life.
The benefit will pay a fixed amount of £25,000 ($37,223) to employees who are diagnosed with a cancer covered by the plan.
Policy definitions, however, apply and not all cancers are covered by the policy.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
