Group Life cover and Group Income Protection cover are now seen by many employees as an essential part of the benefits package offered by an employer. These benefits can make all the difference when it comes to competing in the market to attract and retain high calibre staff.

Life cover provides an employee with the peace of mind of knowing that their loved ones will receive a lump sum payment if they die whilst in your employment. It is a simple and cost effective way of providing a key benefit to your employee. The policy is normally written under trust so that payments can be made quickly and without any tax implications. The amount of cover is usually a multiple of the employee's salary and the premiums are much more competitively prices than an individual buying life cover themselves.

Income Protection provides an employee with the reassurance that in the event of long term sickness or injury preventing them from working, they will continue to receive an income up until retirement or upon their return to work. The policy is normally set up to pay a regular income, usually monthly, of up to a maximum of 75% of the employee's salary. Payments can also be indexed to take into account inflation. The benefit is usually paid to the employer who in turn pays this to the employee through the normal payroll process. Not only does this benefit show the employer cares about their staff's financial wellbeing, it also removes the awkward decision about financial support for a seriously ill employee.