Group income protection enables employers to continue to pay an income to any employee if they are unable to work due to sickness or long-term illness for a prolonged period of time. This is an invaluable benefit for employees, helping to retain high-calibre staff, and also mitigates the impact of absent staff on the business, as it can support a more gradual return to work.
Such schemes can prove more cost-effective than offering individual life insurance policies. They are also very flexible, with the possibility of covering a number of employees at different levels under one plan. Claims are usually paid out by the employer via payroll.
With group income protection, you can give your employees the peace of mind that their outgoings are covered whilst they focus on recovery and give them the support they need during an emotional and financially difficult time.