Group Income Protection Cover
Get a Quote
Group Income Protection Cover
Group Income Protection Cover is a type of insurance policy that provides financial support to employees who are unable to work for an extended period due to a long-term illness or injury. This policy ensures that employees continue to receive a monthly income, helping them meet their financial obligations and maintain their standard of living.
In the event that an employee is unable to work due to a covered illness or injury, the Group Income Protection policy will kick in and start paying them a regular income. The amount of income provided is typically a percentage of the employee’s pre-disability earnings, up to a maximum of 75%.
Employers typically purchase Group Income Protection policies as part of their employee benefits package. By offering this coverage, employers demonstrate their commitment to supporting their employees’ financial well-being and providing a safety net in case of unexpected health issues. This can help attract and retain talented employees and contribute to a positive work environment.
Overall, Group Income Protection provides employees with peace of mind, knowing that they will have a source of income if they are unable to work due to a long-term illness or injury. It offers financial security and support during challenging times, helping employees focus on their recovery without worrying about their financial situation.