Group Income Protection provides a regular income to employees if they are unable to work as a result of illness or injury.
Whilst steps can be taken to encourage health and well being in the workplace through a balanced lifestyle for your employees time off from sickness can still occur. With statutory sick pay starting after just a few days of a sickness related absence from work, many companies use group income protection to help their employees in times of long term sickness absence by paying a proportion of salary until the employee returns to work, reaches state pension age or if they die whilst claiming. The employee can choose how long sickness absences last before payments start as well as choosing the length of time the employee should be paid for. The employer can also arrange a reduced amount to be paid if the sick employee can only return to work on a part time basis.
8.5 million households in the UK would not last longer than a week on their current savings. At BDHL we offer Group Income Protection across the UK, Channel Islands and Internationally, with policies that save your employees from the worry that can come from living what is often an inadequate statutory sick pay, and will pay a percentage of your employees basic annual salary when certain requirements are met. This policy can be customised to meet your needs and if required an employer can choose to cover national insurance and pension contributions on the company’s behalf either for a defined period or until retirement.
Returning to work after a prolonged period of absence due to sickness can be quite a daunting process, and it can take some employees some time to get back into the swing of things, or in more serious cases of absence time to get over the psychological trauma felt during their absence. As part of our Group Income Protection policy we can provide your employees with additional benefits such as a return to work program that can include stress counselling help lines. These benefits could also be part of an Employee Assistance Programme. In instances where specific arrangements need to be made in order to accommodate an employee’s return to work assistance can be made available to you to help with making alterations to your office that allow your employees to return to work.
Using insurances as an employee benefit can also be a recruitment and a retention tool, as well as encouraging employees to lead a healthier lifestyle and have a work life balance. BDHL are specialists in providing Group Income Protection so if you have any questions about how the policy works, or if you would like to find out more about this policy or any of the other health insurance solutions that we offer, then please don’t hesitate to get in touch with a friendly member of the team who will help you with your enquiry. You can get in touch with us by completing the contact form on this page or by calling +44 (0)1892 891 900.