What is group income protection?
Income protection schemes, or accident and sickness insurance policies, cover your employees’ income if they can’t work due to accident or sickness.
Our Lifestyle Protector, which is a form of short-term income protection, pays a monthly cash benefit to cover your employees’ income if they can’t work. The benefit is tax free, and is paid back to the day your employee was signed off sick.
Naturally you’d hope they never have to use the policy, and that they remain fit and healthy for work.
Why offer group income protection?
By offering your employees income protection as a benefit, you’re providing them with invaluable peace of mind.
If they know they’re financially protected in the event of an extended illness or injury, then they’re likely to feel less stressed. And having a clear and positive mind when they come to work could have a major effect on their output and, most importantly, your bottom line.
How much does group income protection cost?
Our Lifestyle Protector provides your employees with invaluable financial peace of mind, and it starts from as little as 24p* per employee per day.
That’s a tiny price to pay for looking after the financial wellbeing of your employees, especially when you compare it to the cost of office parties, Christmas events, or even the cost of milk for your staff’s tea and coffee!
*Based on £300 monthly benefit plan, 30-day deferred period, and 12-month benefit period for an individual aged 18-30.
Get a group income protection scheme tailored to your business
Whether you’re a business of three or a large corporate company, we can set up a group income protection scheme which adequately protects your employees’ finances.