Executive Income Protection
Executive Income Protection
Taking the financial strain out of employee absences
In 2022, an average of 2.5 million UK employees were signed off sick meaning the average number of sick days taken per worker was 5.7
Would paying all your employees at least 5.7 days of sick pay put a financial strain on your business?
Many businesses now offer enhanced sick pay for their employees if they’re unable to work. An Executive Income Protection plan pays a monthly benefit to the business when an employee is absent because they’re unwell or injured. The monthly benefit will be paid to the business and it can be used to help fund the employee’s ongoing sick pay.
What is Executive Income Protection?
Executive Income Protection is designed to support businesses against the financial impact of employees when they need time off due to illness and injury.
Businesses can protect an employee’s salary, dividends and P11D benefits which form part of their overall remuneration.
Cover can also be arranged to cover employee costs such as National Insurance and employer pension contributions.
It’s an excellent way to assist a company in reducing the financial uncertainty that frequently results when an employee is unable to work as a result of illness or injury.
The policy is owned by the employers.
Supporting your Employees get back to work
Within your Income Protection policy, insurers offer additional benefits such as a specialist Rehabilitation Team*. The support service includes triage service, full rehab assessment, ongoing reviews and a structured return to work programme.
*Benefits are specific to insurers and each insurer offers their own set of benefits which may or may not include a specialist rehabilitation team.
Financial protection policies typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
What is Executive Income Protection?
Executive Income Protection is designed to support businesses against the financial impact of employees when they need time off due to illness and injury.
Businesses can protect an employee’s salary, dividends and P11D benefits which form part of their overall remuneration.
Cover can also be arranged to cover employee costs such as National Insurance and employer pension contributions.
It’s an excellent way to assist a company in reducing the financial uncertainty that frequently results when an employee is unable to work as a result of illness or injury.
The policy is owned by the employers.
Supporting your Employees get back to work
Within your Income Protection policy, insurers offer additional benefits such as a specialist Rehabilitation Team*. The support service includes triage service, full rehab assessment, ongoing reviews and a structured return to work programme.
*Benefits are specific to insurers and each insurer offers their own set of benefits which may or may not include a specialist rehabilitation team.
Financial protection policies typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
The business takes out Executive Income Protection
The employee’s income is protected
Employee is injured or unwell and unable to work
The business makes a claim and once verified, the policy pays out a monthly benefit in line with the level of cover
Payment cease when the employee returns to work, the benefit payment period ends or they die, whichever comes first
*Benefits are specific to insurers and each insurer offers their own set of benefits which may or may not include a specialist rehabilitation team.
Financial protection policies typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
Get in touch about Executive Income Protection
Contact Details:
11 Mallard Way, Mallard Way,
Crewe, CW1 6ZQ
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