Income Protection

Income Protection

Businesses across the UK are spending an estimated £3.1 billion every year on employees who are unable to work due to long term illness or injury. This can be a significant cost to a business, but can be offset by the introduction of a group income protection scheme.

These schemes not only pay a monetary benefit after a set deferred period or number of years, but also offer your business structure, support and guidance in managing an employee through their absence.

Typically, a minimum of 5 employees are required with benefits pitched at 80% of pre-incapacity earnings. These are paid to the employer in the first instance but deliver an income for sick and incapacitated staff and ably demonstrate an employer’s concern for staff wellbeing.

On average over the last 10 years, 2.6m employees have been absent from work and claiming benefit for longer than 6 months. So, group income protection is regarded as a core benefit that helps attract, retain and engage your workforce.

If you would like to know more, please speak to a member of our Income Protection team: 03300085022

Request a Call Back

Latest from the Knowledge Centre
Product Information
Diesels negative press not impacting motor trade

If you are involved in the motor trade, you are likely to be more familiar than most about the…

Read More
Product Information
Super lorry set for Britain

The latest report on the UK logistics industry by the Freight Transport Association (FTA) for 2016 underlined a basic…

Read More
Product Information
Types of vehicles being sold will change – how will this effect motor trade insurance?

After a century of very little basic variation in the principles of the petrol combustion engine to power our…

Read More
Helpful Information
Insurance Premium Tax (IPT) to increase from 1 June 2017

In the Autumn statement last year the Government announced that it would be increasing the standard rate of Insurance…

Read More