Group Permanent Health Insurance

Of the 20 million employees eligible for Group Income Protection, only around one in 10 has any such cover*.

The human and the financial costs of this shortfall are enormous.

Managing long-term sickness is a challenge and some companies choose to take on the problem themselves. But sickness is costing employers so much money each year, can your company afford to take on such a complex and demanding task without our expert help.

When approximately 168 million working days were lost to absence in 2004* and Sickness absence costs British Businesses £12.2bn a year, with the average cost of absence now standing at £601 per employee. *

An estimated 30% of reported absences are social and personal problems, not medical conditions.

An effective income protection policy will provide a continued income for sick and incapacitated employees who are unable to work. It will help with employee retention and recruitment and can be used to protect National Insurance and Pension contributions whilst providing financial assistance at a reasonable cost and let’s not forget that you may also enjoy tax relief on the costs of such a scheme making it an effective way of dealing with this costly issue.

We would welcome the opportunity to discuss these services should you feel that they would be of use and our senior corporate consultant, Steve Brice will be happy to talk through your requirements.

* CBI Absence and Labour Turnover report 2005