Global income protection
Long-term illness can represent a substantial financial strain for both employers and employees working abroad.
A group income protection policy will pay a proportion of an employee’s salary in the event that they are off work due to long-term sickness or injury. Cover is especially important for employees working overseas in countries where there is minimal or no state sickness benefit provision.
A group income protection policy will pay:
- An acceptable length of claim payment - some domestic policies may restrict the duration or require repatriation of the employee after 2 years
- A benefit as a proportion of salary that complies with the specific country regulation
- Attractive free cover levels reducing the need for medical underwriting
Our specialist global medical policy risk consultants can guide you through this complex area of benefits provision and ensure that cover addresses the specific requirements of both your employee and the host country.
How does Group Income Protection help you and your employees?
- An income protection policy will reduce the impact of ill health early retirement on pension schemes. The employer can either keep policy payments to offset the cost of an early pension or by the employee to fill the gap until the pension starts.
- Some policies will provide rehabilitation services to help nurse absent employees back to health (and the workplace) as soon as possible, which in turn helps to minimise the payments required on the policy
- By intervening early with an employee’s long-term sickness and offering advice on the reasonable adjustments needed for staff returning to work, a policy can help companies to demonstrate compliance with the Disability Discrimination Act
