RBIG Group Income Protection Solutions

Group income protection can be a win-win to employers who want to minimise long term sickness absence costs and offer a highly valued employee benefit.

It works by providing your staff with a guaranteed monthly income should sickness or injury prevent them from working.

This gives them the comfort of knowing that should they be off work they'll still be able to pay those all important bills, such as their mortgage or rent, gas, electricity and water charges. It may also cover personal loan repayments which could, for example, be vital in keeping the family car on the road.

Some policies will cover National Insurance payments to protect future state pension arrangements and benefit entitlements. Private pension contributions may also be covered.

Employer benefits

For an employer, providing income protection as a benefit sends a strong message to your employees that you care about their welfare. This can enhance your employer brand, making it easier to recruit and retain the best talent.

What's more, it can help get your people more quickly return to work from sickness.   That's because they can offer specialist rehabilitation and counselling services to help speed recovery.

Of course the faster they can recover and return, the faster they can again contribute to the success of your business. As such group income protection acts as an absence management tool which can aid both productivity and the wider well being of your people.

RBIG Group Income Protection cover options

Our experienced advisors can offer you advice which is both expert and impartial to ensure you secure the best group income protection for your business.

Having discussed your requirements, they will determine the right level of cover and how it should be structured. 

This will include determining the percentage of salary to be paid as a benefit - typically this falls between 50-70% - which will be paid as a monthly fixed-term income replacement. 

They can also advise you on the merits and costs of protecting the real world value of policy benefits by linking them to retail price index.

In addition our experts can talk you through the potential tax benefits. Group income protection insurance premiums are usually regarded by the taxman as a business expense on which you can claim tax relief.

Cover options available include:

• Deferred claims period - by agreeing a minimum period of time that must elapse before an employee may claim, you can cut your premium.
• Employee Assistance Programmes (EAPs) - some policies also allow access to an employee's dependants and immediate family (definitions and policy conditions vary).
• Bespoke group insurance schemes.
• One-to-one specialist rehabilitation and therapy services.
• Integral workplace wellbeing support - expert advice to help maintain everyday physical and mental health and prevent absence.
• Legal advice for employers - covering HR, health and safety and other business issues.

RBIG Income Protection for individuals

As well as group schemes, we can offer expert advice on income protection for individuals.

These can be tailored to meet your specific circumstances, taking into account your regular outgoings and the impact a period of sickness, accident or the involuntary loss of your job could have on satisfying them.

Income protection policies can be structured to offer a variety of benefits. By talking to our advisors, you can establish which best suit your needs and the scenarios you want to protect against.

These include specific protections to cover mortgage or other loan repayments, monthly bills, short and long-term sickness absence and income replacement (to a determined percentage) in the event of sickness or accident.