Providing Income Protection Insurance for your employees helps support them if they were to become disabled or ill and therefore unable to work for some length of time. This is important because a person's ability to work - and to earn a sufficient income to cover the day to day costs of living for themself and their family - is a major factor in everyday life for a large proportion of people.
Providing Income Protection therefore helps employees feel secure in the knowledge that if they were affected by illness or disablement and could not work the impact on their lifestyle, and that of their family memebers, may well be less severe and stressful. The extra security provided by Income Protection Insurance is a very welcome benefit for most employees, and one which can also help encourage loyalty and staff retention.
Examples of the benefits this type of cover can provide include:
- regular payments to covered employees should they fall ill or become disabled
- these payments are usually made in the form of a percentage of their usual salary
- hospitalisation benefit should this be required
- optional extra benefits for specific injuries or illnesses
Do you think you require this protection? Click on the below link to complete our self-assessment: