Financial stability is something we all strive for and is often foremost in many people’s minds; if illness or injury prevents people from working, statistics show that most individuals would not be able to meet their weekly/monthly financial commitments. It is claimed there are 8.5 million people in the UK that would not be able to last longer than one week on their savings.
Income protection insurance provides a percentage of an individual’s salary as income after a specified period of absence, enabling them to meet and maintain some of their financial commitments.
In addition, the employee also receives an assessment, rehabilitation support and return to work programmes, which support both the employee and the employer at a difficult time. Additional services are also available as part of this insurance, such as employee assistance programmes – with telephone helplines and face-to-face counselling, as well as awareness and training sessions for medical conditions such as musculoskeletal disorders, anxiety, stress and depression and cancer.
Income protection insurance complements other employee benefits, such as private medical insurance, health cash plans and critical illness cover. This will ensure you create the most effective employee benefits package and achieve the best outcome for the employer and employee.
Jobson James will undertake an audit of your benefits and produce a report identifying any cost savings that can be made, improvements that could be considered and additions that could be offered. This will ensure your employee benefits package covers the main areas affecting wellbeing:
Having benefits in all these areas will result in a complete benefits solution, which is of great value to both employer and employees.