The long-term sickness or absence of any key member of staff can incur large financial costs for a business.
Employers can not only protect their business from such costs, but provide a range of financial support and services to employees suffering from a long-term illness.
With Group Income Protection, should an employee become incapacitated through illness or accidental injury and be unable to work long-term , the employer can claim on the policy and have a proportion of the employee's income paid by the insurer that they then may pass onto the employee through their normal PAYE process. Eligible claims benefit will be paid until the employee is well enough to return to work or reaches the scheme termination age (usually normal retirement age).
Group Income Protection gives employees peace of mind that a proportion of their salary may be paid should they be off work, long term, due to illness or accidental injury.