Group Income Protection is much more than a valuable benefit to employees. Employee absence is a huge hindrance and cost to any employer, hitting companies where it hurts most.
Group Income Protection allows a business to provide its employees with peace of mind by assuring them that essential monthly outgoings can still be covered while they focus on recovery.
Supporting employees on the road to recovery
With a variety of options available to suit all organisational needs and budget, Aston Lark’s experienced team of advisers are on hand to provide guidance and best practice solutions to assist with the design, set-up and ongoing servicing to ensure you get the best option for both the business and your employees.
As opposed to a Group Life plan that pays out on death, an Income Protection scheme is designed to provide a replacement income to your employees should they be unable to work through illness or injury.
While covered under the scheme, your employees have the assurance that their essential monthly outgoings will be covered so that they are able to recover and return to work as soon as possible, and the organisation no longer has the difficult moral decision of when to stop their income.
As with Group Life, multiple employees are covered under one plan, and benefit is usually calculated as a percentage of the employee’s salary. Many options are available to suit an organisation’s individual needs and budget.
All providers offer assistance to both the employee and the employer, including rehabilitation support,helping employees get back to health and back to work – reducing the length of absence and the impact on the business.