Group income protection 

Long-term illness can represent a substantial financial strain for both employers and employees.

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.

You can choose to either make the payments directly to an individual or use the policy to fund payment for a limited period and then provide your company with a lump sum to fund a leaving service benefit.

How does group income protection help you and your employees?

  • An income protection policy will reduce the impact of ill health and early retirement on pension schemes. Policy payments can be either kept by the employer 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

If your business requires group income protection, c­all Willis Towers Watson Health & Benefits on 01606 352035, complete our online contact form or request a callback to find out how we can help you.