How does this policy work?
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Please note: This information relates to policies quoted after 28 September 2015.
Our Group Income Protection policy helps your business and your employees. We understand that affordability and efficiency are important, which is why we offer a free cover limit of up to £150,000 so any benefits below this level do not require medical underwriting. Additionally, ‘once only’ underwriting means that the members whose benefits are above the free cover limit will normally only be medically underwritten once, with no requirement for further underwriting.
Choose the options that fit your business
- Decide when your Group Income Protection payments begins; after a deferred period of 13, 26, 28 or 52 weeks.
- Choose whether you require benefit to be paid to policy cease age or for a limited term of 2, 3, 4 or 5 years and if you require a lump sum option.
- The option to ‘pay direct’, which allows you to select after one month of standard benefit payment, whether you would like benefit payments made directly to the employee. Pay direct doesn't help with administration costs but can reduce your liability in terms of associated costs of retaining employees on the payroll.
We’ll help you and your employees whilst at work
- Our wellbeing service can help you promote good working practices, which helps your employees stay healthy and reduces risk to your business.
- We include an Employee Assistance Programme (EAP), which offers employees over the phone and face to face counselling sessions. The EAP service is provided by Care First and is a non contractual benefit which can be removed at any time without notice.
You can rely on us for support during long-term absences
- Our Group Income Protection policy provides cover for up to 80% of your employees’ gross taxable earnings (up to a maximum of £425,000).
- Whenever possible we’ll work with your employees to help them recover and return to work as quickly as possible.
- To help motivate your people to return to work we can provide a graduated benefit payment to support the employee as they gradually increase their hours.
- All claims will be dealt with over the phone by a team trained to understand long-term absences from work.
Offering Group Income Protection should be considered by the employer in light of The Employment Equality (Repeal of Retirement Age Provisions) Regulations 2011.