The advantages of income protection are much wider reaching than simply paying benefits. It also:
- protects your company’s profitability
- provides additional cover for associated expenses such as pension contributions and employer National Insurance contributions
- can help your bottom line by providing income towards the cost of sickness absence
- provides information on disability discrimination and employment law
- increases the chances of employees returning to work early
- provides rehabilitation and return to work programmes where necessary
- attracts and keeps quality staff
Benefits for you
- you know you’re doing everything possible to keep your employees healthy and productive
- financial cover for absence and a flexible way of promoting recovery in one package
- access to third-party specialists who work in partnership with you, your employee and the employee’s medical advisers to make sure that your employee can return to work safely at the earliest and best opportunity, when possible
Benefits for your employee
- security of continued income during periods off work
- support offered meets their personal circumstances
- you recognise their value as individuals and as important members of a team
Positive intervention
To get the most out of group income protection, we rely on your ongoing support and commitment. We can only intervene if we know about the problem, so we need you let us know when any of your employees have been absent for four weeks. This lets us make an initial assessment and plan a course of action.
Choice
You can choose from a range of definitions of incapacity and a selection of benefit levels. The benefits can be linked to inflation, and the period of payment can be adjusted by varying the time before benefits start and either the total claims period or the age at which benefits stop.
Cover
Cover can be extended to 37 countries outside the UK, with claims payments being made abroad for a time. Pension and National Insurance contributions can also be included in the cover.
Further information... Who should I talk to?
Speak to your financial adviser to find out more. If you don't have an adviser, the IFA Promotion Service or the Society of Financial Advisers can help you find one.
