Save on sick pay and reduce the risk of long-term absence
Providing extra support to staff who are ill or injured can make a world of difference to their recovery. Group Income Protection not only covers an employee’s salary while they take time off, it can also provide access to rehabilitation specialists who will help them return to work as quickly as possible.
What is Group Income Protection?
Group Income Protection is an insurance policy that will pay an employee’s salary if they’re unable to work as a result of illness or injury.
Your policy can also cover the cost of additional support, such as physiotherapy and sessions with a mental health specialist.
Additional options to provide cover for the business in the form of National Insurance contributions, pension contributions and the costs associated with finding and employing temporary or replacement staff are available.
How Group Income Protection benefits your business
Group Income Protection will pay an employee’s salary all the way through to State Pension age – so your business doesn’t incur significant costs while they’re away from work. When income is protected in this way, the employee’s pension, National Insurance contributions and retirement plans can be maintained, despite the break in normal salary payments.
Providing income security in the event of illness or injury will ensure a motivated team and a less troublesome path back to health and back to work.
- Cost effective cover – a Group Income Protection scheme can save your business thousands in sick pay
- Support from rehab specialists – to help staff recover and return to work more quickly
- Relieve Worry - knowing that the financials are covered in the event of illness or injury, staff can focus on helping your business grow
- Options for Initial and Final lump sums - to help in the event of a heart attack, stroke or cancer or to fund early retirement due to illness or injury
- Choice of cover levels – you only have to pay for the cover you need
Providing extra support to staff who are ill or injured can make a world of difference to their recovery.
Why you should consider Group Income Protection
- When you set up a Group Income Protection scheme, your insurers will take on the responsibility of continuously assessing absent employees to ensure they return to work as soon as they’re ready.
- Generous free cover limits mean that insurers require little or no medical evidence for most employees.
- A benefits package that includes the financial support provided by Group Income Protection is an effective way to attract and retain high-calibre employees.
- Maintain productivity and moral by allowing your staff to focus on the business without the worry of having to cope financially should the worse happen.
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