Group income protection insurance

Group income protection cover can benefit both businesses and their employees:

Continued income during sickness or injury

Often, when an employee is off work for a long time through sickness or injury, they must rely on their statutory sick pay or state benefits to cover their living expenses. This may not be enough or last long enough to pay all the bills, leaving employees vulnerable to mortgage arrears, accruing debts, even bankruptcy. Instead, group income protection will pay the employee a portion of their salary or wages until they can return to work.

Key benefit to the employee:

• Retain most of their salary or wages or salary even if they are off work for an extended period
• Not taxed as a P11D benefit in kind

Key benefits to the business:

• Tax deductible expense
• Improves employer value proposition (EVP) making your company more attractive to new workers and supporting employee retention

Early intervention and rehabilitation

Group income protection policies will typically give employees access to a range of health and well-being resources, helping them to recognise the symptoms of looming medical issues early in their cycle. This provides the employee with the necessary knowledge to secure intervention treatment before the medical issue develops into a full-blown crisis. 

The insurance will also usually provide employees with access to rehabilitation services after they fall ill or suffer an injury. This can help to speed the recovery process, returning them to full health sooner. 

Key benefit to the employee: 

• Treat a medical problem before it becomes a serious condition
• Get back on their feet sooner if they become ill or are injured
• Covers both physical and mental health

Key benefits to the business:

• Prevents unnecessary absences 
• Gets your key employees back to work and helping build your business sooner

Case management support from the experts

Most group income protection insurers will assign a dedicated case manager to work closely with your employees during the claims process, supporting them with advice, information and regular claims updates.

Key benefits to the employee: 

• Reduces risk of errors and omissions
• Eases employee worry during a difficult time

Key benefit to the business:

• Allows you to concentrate on your business knowing your valuable employees are well cared for

Prioritise wellbeing

Group income protection insurance can deliver a range of wellbeing services and workplace wellbeing solutions to help businesses create a healthier, happier workforce.

Key benefits to the employee: 

• Reliable information resources allow employees to make better lifestyle decisions
• Helps to maintain peak employee health 

Key benefits to the business:

• Fewer absences
• Fewer compensation claims
• Reduced employee turnover
• Better productivity