Voluntary Group Income Protection
Personal Group's Voluntary Group Income Protection Plan can help you manage long term absence more effectively. It provides a guaranteed income for employees who are unable to work through illness or injury.
Find out more about the plan:
In Brief
Voluntary Group Income Protection provides a regular monthly income benefit if an employee is sick or suffers an accident and is unable to work for a continuous period of time.
The product is group rated and available to employees on a voluntary basis. It gives you the opportunity to make income protection available to your people without the high costs associated with some plans.
By operating Voluntary Group Income Protection through a salary sacrifice arrangement you can further extend the savings for both you and your employees.
In More Detail
- Paid via salary sacrifice - providing significant Tax and National Insurance (NI) savings for employees and also 13.8% NI savings for you
- Pays 75% of an individual’s salary up to £30,000 pa less the single person's Employment and Support Allowance (Higher benefit levels up to £50,000 pa are available upon request.)
- Benefit periods of 2, 3 or 5 years are available (selected at the outset by you)
- Deferment periods of 8, 13, 26 or 41 weeks are available aligned to your sickness absence provision
- If an employee is permanently incapacitated and will never return to work a lump sum equivalent to one year’s benefit is paid at the end of the benefit term
- If an employee can return to work during their period of illness and do lighter duties with less pay the plan tops up to 75% of their original salary
- Support + - practical and emotional health support via 24 hour helplines and from professional nurse advisors
- Full administration and claims management from Personal Group.
- No medical underwriting, immediate terms available.
Simple Application Process
It’s easy to apply for the plan. There is no need for fussy and longwinded underwriting and all employees can be covered from the date they join the plan. Any current or previous medical conditions will be covered 12 months after joining the plan.
Once in the plan, contributions will automatically be deducted from their gross salary.
Tailored communication
We can provide a range of communication options to help employees understand and appreciate how income protection can provide valuable financial protection including:
- A clear, easy-to-understand explanation of the cover and its benefits by our specialist consultants
- Product information to support the individual explanations
- A telephone helpline manned by a dedicated customer service team to answer any queries your employees may have
- Online information that can be accessed at any time.
