Group Income Protection

When an employee is unable to work due to an accident or long-term sickness it places stress on them and you, the employer.

Your employees still need income to meet their household costs and you need the employee at work making the difference.

Group Income Protection cover will pay, a set percentage of your employee’s salary, and assist your employee throughout the process of rehabilitation and ultimately getting them back at work quicker with minimum impact on the business.

Benefit is usually paid directly to the employee and is based on a percentage of salary after a deferment period of typically 4 weeks.

Benefits for Employers

  • Your absent employee is being paid by the Insurer so you can use their salary to pay for temporary staff.
  • A good GIP Insurer will work with you and the employee to get them back at better and back to work sooner.
  • Staff Retention and Recruitment: In an ever more competitive employment market, this is an attractive cost effective benefit to offer employees.
  • All staff levels can be included.
  • Group Income Protection is not a taxable benefit in kind.

Benefits for Employees

  • The rehabilitation and specialist support, provided by the various Insurers, will greatly assist employees to get back into a working ‘frame of mind’ following extended absence.
  • During rehabilitation following an injury or during medical treatment of a long-term illness employees will have the peace of mind in having a set regular income externally from the employer.
  • Group Income Protection is not taxed as a benefit.
  • Not all employers offer Income Protection so staff are likely to appreciate it as part of their employment package.

Frequently Asked Questions

Is Group Income Protection the same as Permanent Health Insurance ?


How much does Group Income Protection cost ?

It depends on locations, salaries, average ages and industry factors but typically Group Income Protection is less expensive than medical Insurance.

What about future premiums ?

Underlying scheme rates are normally set for two years which, unless you have a mass change of employees and salary roll, the premium should be quite statutory.

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