No one expects to get ill or injured, but sometimes these things happen – and they have a tendency to financially upend life, even if recovery is on the horizon. As the cost of living crunches on personal finances, Group Insurance policies can give people the security and support they need in life-changing moments – and in financially hard times, a well-rounded benefits programme provides for the financial, mental and physical wellbeing of people, in the present and the future. As a business owner or HR leader, you know that your employees are the backbone of your company. You’ve invested in their recruitment and training to get them into a position to drive your success, achieve your goals and keep your business running smoothly.It’s likely you’re also looking for the best ways to support and protect them, so that they can thrive — could Lump Sum Disability Insurance be part of protecting your peoples future? Let’s find out. Group Lump Sum Disability Insurance is an employee benefit that provides your employees with a safety net in the unfortunate event that they become disabled and are unable to work.On the one hand, it's a good way to show your employees that you care about their wellbeing and are committed to supporting them no matter what happens – but there’s a secondary benefit, that also protects your business, and can boost your bottom line.Not only does Lump Sum Disability Insurance provide financial security for your employees, but it can also help to attract and retain talented staff. In today's competitive job market and age of the Great Resignation, employees are looking for more than just a paycheck.People want to work for a company that values their wellbeing holistically and provides them with the support they need to succeed.In this guide, we'll take a closer look at what Lump Sum Disability Insurance is, how it works, and why it's so important for businesses to offer as an employee benefit. So let's get started and explore the many benefits of this Group Insurance, both for your business and your employees.What is Lump Sum Disability Insurance?Lump Sum Disability Insurance is insurance that provides a once off payment to an insured individual in the event that they become permanently disabled and are unable to work. The lump sum payment can be used to cover medical expenses, living expenses and any other costs associated with the disability. This means that the insured individual can focus on their recovery without having to worry about their finances.Is Lump Sum Disability Insurance worth it from a business perspective?This is an important question. Too often, employee benefits are seen as a luxury relegated to big corporations that have no real business value in the sense of helping a firm make money. But this couldn’t be further from the truth.As well as helping to attract and retain top-tier talent, offering group insurance — which can also include Life Cover, Income Protection and Funeral Cover — Disability Insurance can also help to protect your business from financial loss.For example, if an employee becomes disabled and is unable to work, your business may be required to continue paying their salary for a set period of time. This can be a significant financial burden, particularly for small businesses that may not have the resources to cover this cost along with that person’s replacement.However, if you invest in group insurance such as Lump Sum Disability Insurance, the financial burden is shifted to the provider. You can then rest assured that your budget won’t be hit with covering the cost of the employee's disability, allowing you to focus on running the business.How Lump Sum Disability Insurance policies differIt is important to note that not all Lump Sum Disability Insurance policies are created equal. There are a number of factors that can affect the amount of the lump sum payment, including the severity of the disability and the age of the insured individual.It is important for businesses to carefully consider their options when selecting a policy, and to work with an experienced adviser who can help them navigate the complexities of the insurance market.Of course, there are a number of group insurances that businesses may want to consider offering to their employees, such as Life Cover and Income Protection. And group insurance can act as an access point to a full suite of wellbeing benefits. Lump Sum Disability Insurance with YuLifeThe fact is, that many people don’t know that their insurance exists – but YuLife is an employee benefit provider rewriting these rules, providing group cover paired with wellbeing benefits and rewards that provide everyday value to employees. So yes, you can access Lump Sum Disability Insurance with YuLife – but it’s more than just insurance. Where other insurers may only be there for people at the point of illness, YuLife engages with people every day to help them live better lives. How? With employee rewards and wellbeing benefits beyond the insurance. The YuLife employee app rewards employees for building healthy habits. People can earn reward vouchers to spend on everything from groceries, fuel and clothes, to giving back by donating meals and planting a tree.How do they earn these rewards? By simply walking, cycling or practising mindfulness they earn the digital currency – called YuCoin – that they can spend with a host of reward partners. The YuLife app also features the best wellbeing and digital health tools in the world: including virtual GP access, and an employee assistance programme. And you don’t just need to take our word for it. YuLife has been voted the number 1 employee benefit in the UK on Trustpilot.Whatever the benefit, engagement is key, and if you have a benefits or rewards programme with low utilisation and engagement, then you need YuLife — reach out to our team today.