Accident & Sickness Cover

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Medical Recovery Insurance provides insurers, MGAs, brokers and other distribution partners with a differentiated Accident & Sickness proposition designed primarily for the self-employed market, while also offering an attractive solution for employers wishing to provide cover for their workforce.

For self-employed customers, even a relatively short period away from work following an accident, operation or medical procedure can result in an immediate loss of income. Unlike many employed workers, they may have no employer-funded sick pay and traditional income protection products can be expensive, complex or subject to deferred periods that make them less suitable for shorter absences.

Medical Recovery Insurance is designed to help address this protection gap. The policy provides a pre-agreed cash benefit following covered accidents, operations and medical procedures, including certain cancer treatments. Benefits are linked to the typical recovery period associated with the treatment, allowing cover to respond to periods of incapacity ranging from a few days to several months.

For distribution partners, this creates a straightforward and accessible protection product that can complement existing Accident & Sickness, health, personal accident and income protection portfolios.

The product is particularly relevant to self-employed workers, contractors, tradespeople, professionals and other customers whose income depends directly on their ability to continue working. It can also be offered to employees who do not have comprehensive sick pay arrangements in place.

Employers can also purchase cover for their employees as part of a staff benefits or sick pay programme. This can provide an affordable way for businesses to enhance employee protection, supplement existing sick pay arrangements or help manage the financial impact of employee absence without assuming the full cost of that risk themselves.

Family options are available to provide benefits where a parent needs to take time away from work to care for a child recovering from an operation or medical procedure, while certain complications of pregnancy can also be included within the cover.