Denplan has launched a new option that enables corporate clients to include eldercare cover for employees. JP Morgan was the first corporate client to adopt this, by adding it to its flexible employee benefits scheme.
Denplan says there are now over 11m people in the UK over age 65 and nearly 1 in 5 people in the UK will live to age 100. More working age people are therefore likely to have elderly parents.
The option enables employees to select dental care cover for their parents at the same corporate rates they and their partners receive.
Denplan offers a range of flexible dental plans to suit the needs of companies and their employees or a more comprehensive package for some or all employees.
What They Say
Head of corporate, Pam Whelan, said: “The oral health needs of an ageing population should not be underestimated, and there is likely to be a growing impact on society of diseases such as periodontal disease (gum disease), which is often more common in later life. [The option] enables employees to select dental cover for their parents at the same current corporate rates that they and their partners receive.”
What We Say
"This is a useful benefit for employers to offer their employees, but it’s also further evidence of how protection insurance is becoming more cross-generational. Health benefits such as PMI and health cash plans always have been but, typically, the cross-generational bit only went downwards to children. Now, it’s starting to go upwards too – to cover parents.
"That makes sense – older parents are probably no longer working and increasingly will still have their own teeth (we’ve moved on a lot from the days when some employers even offered false teeth as an employee benefit). Denplan now enables sons and daughters – especially those in higher paid jobs - the option to cover mum and dad’s dental costs on the same basis as their own and their kids’.
"We welcome the trend, and for intermediaries, being able to cross generations in this way is a great opportunity to get to more people more easily too."