Risk & Protection
It’s so important to plan for your financial future so you can maintain a certain standard of living. We offer you access to a range of benefits and services that can help you achieve security for yourself and your family.
Personal Accident Insurance
Through this benefit you will receive a lump sum payment should you die or suffer permanent total or partial disablement due to an accident, subject to acceptance of the claim by the insurer. The payment can be used for any purpose, helping you and your family adjust to your altered circumstances.
Personal Accident Insurance
Cover is purchased in units of £25,000 benefit and team members have the option of selecting up to a maximum of 20 units (i.e., £500,000 benefit) for themselves and their spouse/partner. All eligible children are restricted to a maximum of 10 Units (£250,000) and the maximum death benefit for children under the age of 16 is £10,000 regardless of the number of units purchased.
Detailed information and policy documents for this benefit are available inside your myChoice account. Make sure you're aware of the eligibility guidelines, benefit limitations and exclusions before signing up.
Life Assurance
This benefit provides a lump sum payment to your dependants in the event of your death whilst employed by HPE, paid at the discretion of the Trustees of the Life Assurance scheme.
You can also choose to cover your partner up to a maximum of £250,000.
Life Assurance
The following applies to team members on Standard employment terms and conditions. Some team members may have legacy or non-standard arrangements with different eligibilities and cover options:
Cover Options
Core Level: 4 times your annual base salary / OTE*
Downgrade cover level to 2 times your annual base salary/OTE*
Upgrade cover levels up to 12 times your annual base salary/OTE*
The minimum (2 x your salary) and maximum option depends on when you joined HPE and your individual terms and conditions.
Generally, annual enrolment and QLE windows will apply a restriction on how many levels you can increase your cover by each year, depending on when you joined HPE and your individual terms and conditions. If you increase your cover, you will be asked to declare that you are ‘Actively at Work’ before you can confirm your selection inside your myChoice account.
*For sales team members who are on an HPE sales incentive plan where OTE applies, cover is provided based on your OTE; sales team members who do not have OTE will have cover provided on their base salary.
Points to consider
- Do you have life assurance from another provider? If you do, does it provide a sufficient level of insurance?
- Do you have dependants to protect if something were to happen to you?
- Do you have any debts that might become someone’s responsibility if you were to die?
- You should consult with your Partner before choosing or changing this benefit.
Please review the benefit description inside your myChoice account for more details.
Life Assurance for my Partner
Cover options
Units of £25,000 up to a maximum cover level of £250,000*
A maximum of two units can be purchased each year; one unit at the annual enrolment window and one unit if you experience a change in your personal circumstances which meets the criteria for a Qualifying Life Event window.
Subject to acceptance of the claim by the insurer.
When selecting the benefit for the first time, your Partner must complete the Health Declaration Form and send this to the provider within 120 days of when the benefit is due to take effect. Failure to do so will result in cover being cancelled and your payroll contributions for this benefit will cease. No refund will be given for contributions deducted during the 120-day period of temporary cover.
Partner is defined as your legal spouse, civil partner or, if you are not married or registered as civil partners, any person who:
Is financially dependent on you, or with whom a financial interdependency exists.
Is older than age 18 (subject to any maximum the insurer may impose for specific benefits).
Co-habits with or has the same main residence as you.
In addition, your Partner cannot be your relative (other than your legal spouse), natural child, adopted child, stepchild or foster child. You can only nominate one person as your Partner. This includes a same sex partner.
You should consult with your Partner before choosing or changing this benefit.
Points to consider:
- Does your Partner have life assurance from another provider? If so, does it give you a sufficient level of insurance?
- Does your Partner have dependants to protect if something were to happen to them?
- Does your Partner have any debts that might become someone's responsibility if they were to die?
- If your Partner were to die, would their estate be subject to inheritance tax? Could their dependants afford this?
Please review the benefit description inside your myChoice account for more details.
Critical Illness
If you are diagnosed with a specified critical illness/condition, you could receive a cash sum to help you cover the costs of private care, home alterations or just to ease your financial situation.
Critical Illness
Cover Options
For me, various levels of cover from £10,000 to £500,000
Critical Illness for my Partner with cover from £10,000 to £250,000
You could receive a cash sum in the event you are first diagnosed with one of the illnesses or conditions specified in the policy or undergo one of their listed operations. The diagnosis needs to match the qualifying definition, and you must survive the specified number of days from diagnosis for the benefit to be paid.
You won’t be covered for any pre-existing conditions, and you may not be covered for any conditions associated with a pre-existing condition. All claims are subject to acceptance by the insurer.
Please refer to the benefit description and T&C documents in myChoice.
Please note that total and permanent disability is not covered under this scheme.