Group Income Protection is designed to help employers to manage long term sickness absence more effectively. By providing a guaranteed income for employees who are unable to work as a result of illness or injury, an employer can help to support them financially through what can be an emotionally and financially stressful time.
When income is protected in this way, the employee's pension, National Insurance contributions and retirement plans can be maintained, despite the break in normal salary payments.
Group Income Protection supports an organisation's workforce in all aspects of life. A number of the insurers we work with at Applescott Insurance offer a range of services which aim to reduce the risk of an employee being long-term absent.
Group Income Protection benefits can be provided in many different forms, including as a percentage of the employee's gross pay after adjustment for the level of State benefits. The benefit is paid to the employer who deducts tax and National Insurance before passing it on to the employee.