Group income protection

/Group Income Protection
Group Income Protection 2017-03-08T12:01:32+00:00
  • Minimise the impact on business of your employees long-term sickness.

  • Protect the business from paying for temporary cover or over-burdening staff.

  • Cut the costs of long-term absence for as little as 1% of payroll.

Have you ever looked at ways of cutting the cost of your company’s long-term absence? Tens of millions of working days are lost to UK businesses every year due to ill-health and work-related injury. Group Income Protection is designed to minimise the impact long-term absence can have on your company.

Over 95% of employee absence is short-term, but Long-Term Absence (LTA) accounts for 33% of days lost in the UK.

Long-term sickness manifests itself in many ways; from increasing colleagues’ workloads to paying for temporary staff cover. Companies have to pick up the cost of this. LTA is estimated to be as much as 16% of payroll, whereas the cost of Group Income Protection is as little as 1% of payroll.

Benefit is paid as a percentage of salary after a deferment period of at least four weeks.

Benefits for company employees

  • Replacement Income: Percentage of salary paid to the employee when they are on LTA.
  • Full Claims Support: The insurer will work closely with claimants to try and get them back to work as soon as possible.
  • Be Part of a Caring Company: Be part of a company that takes your health and wellbeing seriously.
  • Free Cover Limit: The employee will be guaranteed a minimum benefit regardless of their medical history.
  • Manage the cost of Long Term Absence (LTA): Offer effective solutions and advice on LTA as part of an absence management programme.
  • Staff Retention and Recruitment: In an ever more competitive employment market, this is an attractive cost-effective benefit to offer employees.
  • Claims Management: The providers conduct full claims assessments to ensure the progress of individual employee recuperation. The employees’ return to work is of paramount importance.
  • Reduce Staff Long-Term Disability: Group Income Protection helps prevent serious injury becoming a permanent disability and helps companies comply with the Disabilities Discrimination Act by allowing employers more time to adjust to the employee’s new circumstances.
  • Mosaic Health can advise you on the right policy for you. We can guide you through the minefield to help you find the provider and product that are most appropriate for your company.

Benefits for company employers

  • Manage the cost of Long Term Absence (LTA): Offer effective solutions and advice on LTA as part of an absence management programme.
  • Staff Retention and Recruitment: In an ever more competitive employment market, this is an attractive cost-effective benefit to offer employees.
  • Claims Management: The providers conduct full claims assessments to ensure the progress of individual employee recuperation. The employees’ return to work is of paramount importance.
  • Reduce Staff Long-Term Disability: Group Income Protection helps prevent serious injury becoming a permanent disability and helps companies comply with the Disabilities Discrimination Act by allowing employers more time to adjust to the employee’s new circumstances.
  • Mosaic Health can advise you on the right policy for you. We can guide you through the minefield to help you find the provider and product that are most appropriate for your company.