Group Income Protection
Why have Group Income Protection?
A Group Income Protection policy will help you reduce the financial burden on your company should any of your employees be off sick long term due to an accident or illness.An income protection policy can provide up to 70% of an employees income until they are well enough to return to work. Policies can also be set up to continue until the employees normal retirement date.
Statutory Sick Pay (SSP)
For the current year of 2011-2012, SSP is £81.60 per week providing that the employee earns at least £102 per week.Some schemes offer employees the option to top up their benefit.There are also the options to include employer and employee pension contributions so that employees can maintain their entitlement to a pension. In addition, employer national insurance can be covered.
Group Income Protection Costs
This will depend on a number of factor:
- The amount of cover required.
- The age and sex of the employees.
- Their type of occupation.
- Where they work.
- Any claims history with a previous company.
Setting up a Group Income Protection Policy can be quite complicated but we have the trained and experienced staff who can talk you through all the technical jargon and explain the benefits and differences of the companies that we use.
Ask for a confidential, no obligation illustration now and see what we have to offer.
Telephone us on 0800 458 3525 (01823 423823 from a mobile) or fill in our short Enquiry Form.
In order to get an accurate quote for you, we will require a certain amount of detail about your employees. Click here for an example of what will be required.
We promise that we will treat all this data in accordance with The Data Protection Act and will not use your employee personal data for marketing purposes unless we have their prior approval. We do not pass details to any 3rd party unless it is for the purpose of gaining an accurate quote.