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Group Income Protection

Group Income Protection provides your employees with financial support if they are unable to work due to an accident or sickness. The financial support provided can help take away any financial pressure so they can focus on their recovery.  

Group Income Protection is a policy taken out by the employer to provide financial support to their employees if they are unable to work long term due to an accident or sickness. Most group income protection policies come with a range of health and well-being support which can help employees recover with support such as:

- Rehabilitation services

- 24/7 Virtual GP 

- Mental Health Support

- Employee Assistance Programmes

- Gym discounts

- Physiotherapy

Most providers on our panel will offer a range of services that will support employees under a group scheme.

 

How does Group Income Protection work?

Group Income Protection policy is paid by the employer for their employees to offer further assistance after an employee has been off work long term. The employer is the beneficiary of the policy so the employer receives the funds which is then used to pay the percentage agreed to the employee. For example an employer might take a policy to protect 50% or 75% of their employees salary in the event they were unable to work. After 13 weeks of incapacity and off work, the employer will then have the funds to make payment to the employee.

 

Benefits to the employer

providing this form of employee benefit, provides you with the option of replacing that employee whilst protecting the employee that is off sick. 

Why Group Income Protection?

-These policies are extremely inexpensive in comparison to personal insurance policies.

- For most cases there will be no medical or financial underwriting required to start the plan. 

- May provide cover to employees that have pre-existing medical conditions. 

Group Income Protection provides an employer the opportunity to provide employees with peace of mind in knowing that should they be off work long term, they would receive financial support so they can focus on recovery. For the employer it shows you care about and are choosing to invest in the wellbeing of an employee which can help you stand out from the crowd when attracting employees or retaining them. 

How we can help?

We will take the time to understand your business and ascertain how we can help. We will help you minimise cost, delve into any additional benefits and how they can be utilised by your team immediately and free of charge. We will help you understand the differences in underwriting and find the best possible solution for you all round. 

Get in touch with us!

If your looking to implement Group Life insurance as an employee benefit then please contact us on 08000495949 or email info@pearlroseinsure.co.uk and we would be happy to explore all of your options. 

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