Group Income Protection
Group Income Protection (or Permanent Health Insurance), provides a replacement income for an employee on long-term sick leave and could enable the company to fund a temporary replacement, if required. Group Income Protection protects the company as well as the employee, as the associated financial burden is negated.
Key features and benefits:
- Covers the cost of long-term employee absence
- An extensive range of products and benefits available
- Can provide finance for substitute employee salaries
- Financial peace of mind in the event of an employee being incapacitated
What you need to consider:
The benefit of a GIP Plan is to provide a percentage of salary – after a pre-determined period, should an employee be injured or debilitated through illness and unable to work on a temporary or permanent basis.
The company benefits from knowing the cost of long-term employee absence is covered and employees benefit from having financial security.
Group Income Protection is a specialist area, with an extensive range of products offering differing benefits, policy terms and conditions. Let one of our experienced advisors guide you through this complicated arena to find a plan that’s tailor-made for your organisation.