ProtectionSep 7 2016

Group protection could help prevent suicide: Grid

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Group protection could help prevent suicide: Grid

The group risk industry has said some of the services available through group protection policies could help employees having suicidal thoughts.

Ahead of World Suicide Prevention Day this Saturday (10 September) group risk industry body Group Risk Development (Grid) has called on employers to make use of the “full suite” of services available through these policies.

While Grid said some of the features of group policies could “be a vital lifeline for individuals who are having suicidal thoughts, have mental health problems or who are suffering with intolerable stress, anxiety or depression”.

However, Grid stated some of these services were not “well enough understood or communicated by employers”.

Among these services, Grid included rehabilitation support to help employees get back to health-services which it said often come with products providing financial supports during times of long-term illness.

The group also pointed out “employee assistance programmes” were often attached to group risk products, offering employees professional counselling and practical advice and support on issues such as debt management, relationship problems or health matters.

Grid spokeswoman Katharine Moxham said group risk products offered “a remarkable number of inherent services that are extremely useful to support both the employer and employee during difficult times”, and that providers were continually adding new services.

She added: “Often, individuals with suicidal feelings may think others would not understand their problems or feel unable to raise any issues with close family, friends or colleagues.

“Group risk support services could just provide that absolutely crucial support for someone in desperate need and so employers would be wise to promote the added benefits and not just the financial aspect of these products.”

Graeme McColgan, a financial planner with Million Plus Financial Planning, agreed many employers were not aware of all the services offered in a group risk policy.

This was particularly the case with employers who were doing it alone. “If they take advice they tend to be more on top of it,” he said.

He urged employers to review their policies to make sure they were taking full advantage of the services they had paid for.

james.fernyhough@ft.com