With Statutory sick pay cutting in after just a few days many companies want to help their employees in times of long term sickness absence by paying a proportion of salary until the employee returns to work or retires.
Group Income Protection for the Channel Islands (also known as Permanent Health Insurance) products pay a percentage of the employee’s basic annual salary if they are off work due to an accident or illness for a prolonged period of time, which provides the employee with a high level of protection and peace of mind.
Just knowing that the bills are being met takes the pressure off at a time that is most likely to be very stressful and allows you to focus on getting better and be rehabilitated back into the work place quickly.
For the employer being able to manage the cost of sickness and absenteeism effectively whilst providing financial assistance to employees in a very cost and tax efficient way is a benefit.
Group Income Protection (GIP) for the Channel Islands can be set up with a deferred period of 13,26,28,41, 52 and 104 weeks. An employer can choose to include NI contributions and Pension contributions on the company’s behalf either for a defined period or until retirement and premiums on the policy include tax relief on contributions.
There are additional benefits including return to work programs and stress counselling help lines included within the policies. Assistance is also available to support companies with making office alterations to assist with helping to get people back to work due to serious injury.
This policy is also available on a personal basis – if you are self-employed you are particularly at risk, an Income Protection product is designed to provide you with a replacement income in the event that illness or injury means you are unable to work. The income will then cut in and provide for you, your family and will help to protect your business.
For many people living in the Channel Islands, standard insurance policies from mainland providers may not be suitable and don’t reflect the territory’s independent status. BDHL is experienced in providing insurance especially for the region, providing tailored policies that have been designed specifically to meeting the Channel Islands’ needs. If you live in the Channel Islands, BDHL can expand on our group income protection policy to better fit you and your business’s circumstances.
In line with this philosophy, BDHL also has a specific policy for group life assurance in the Channel Islands.
If you’re interested in group income protection in the Channel Islands, your next call should be BDHL. To get in touch with the experts on insurance in the Channel Islands you can call us on +44 (0)1892 891 900, email us at firstname.lastname@example.org, or use the contact form on this page to submit your message.