Income protection
What is Income protection?
Income protection is a type of insurance benefit that covers employees' financially in the event that they become unable to work. This could be due to sickness or a disability.
They work by paying employees a regular income for as long as they're unable to work or until they retire — protecting them against any loss of income during this already difficult time.
We've partnered with leading income protection providers to ensure your team is protected to the highest standard.
Why should you offer income protection?
When employees become unable to work for various reasons, it can be stressful — especially when it comes to financial worries associated with having to take time off work. Here's how an income protection insurance policy can help...
Benefits to employees:
- Peace of mind that they'll still be able to cover bills and expenses in the event they become too sick to work for an extended period.
- If they have families or dependents, then they'll feel reassured that they'll be financially supported during this time.
Benefits to you:
- Improved employee retention.
- No financial risk to you as the insurance company pays the employee's income.
- Group policies can be tax-friendly for businesses.
Why offer income protection through Ben?
Ben makes offering income protection easy. You'll work with a benefits consultant to help you determine if this is the right benefit for you and how it will fit in with your overall package. From there we'll help you find a provider at a preferred price through our global broker network.
Our onboarding team ensures all employees are set up properly, and with ongoing self serve enrolment, as well as automated provider communications. All admin work is taken care of for you, including if you offer various levels of coverage or dependent enrolment.
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Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
