Group Income Protection
Group Income Protection protects your employees from loss of income by paying them a monthly income if they are unable to work for a prolonged period due to long term illness or injury.
Protection for employees
Retain your best employees
Offer financial protection
Group Income Protection is designed for employers who want to provide an income protection plan for employees. The premiums are paid for by the employer and qualify as business expenses that can be offset against corporation tax.
The employer can also elect to have pension contributions covered under this plan. If you need to claim, we will pay the income benefit to the employer, who passes it onto the employee through salary, making any relevant deductions such as tax and USC (Universal Social Charge).
How group income protection works
Group Income Protection is sometimes referred to as Permanent Health Insurance (PHI) or disability cover. At Zurich, we know that the health and wellbeing of a company’s employees is important. We aim to pay valid claims with minimal fuss. We will also offer the right absence management support to you and your employees early on, to try to prevent long-term sick leave. In some cases, we will work with employees to fund the right treatments to help rehabilitate and get them back to work.
Our Group Income Protection is flexible to a company’s needs and can make a real difference to a rewards package. To quote for your business, we need some information from you or your Advisor. We will work with you to make the process as simple as possible, and our dedicated Group Risk Team is on hand to help with any queries.