Executive Income Protection
Executive Income Protection is designed for small/medium-sized businesses providing selected employees the benefits of an extended sick pay arrangement.
Support servicesOffering more than just insurance
Our Executive Income Protection customers have immediate access to a range of health and wellbeing support services.
Help@hand
Providing insured employees with fast, direct access to six high quality health and wellbeing support services through one easy-to-use app - including remote GPs, mental health support, physiotherapy and EAP access.Employee Assistance Programme (EAP)
Our comprehensive EAP provided by LifeWorks includes access for all insured employees to a confidential 24/7 helpline, financial and business legal support, wellbeing content and tailored health and fitness plans.Rehabilitation and return to work support
Immediate access to specialist support to help individuals stay at work if struggling with a health condition or return to work after absence. We also offer a personal wellbeing check to keep your employees engaged and productive.
OverviewWhat is Executive Income Protection?
In the event of injury or illness that leads to loss of earnings, the plan pays a regular monthly benefit to the employer that can be passed on to the employee to help them meet their financial commitments.
Tailored cover
A range of flexible cover and benefit payment options enable an employer to tailor cover to meet the needs of their business as well as their employees. Options include:
- Choosing a level of cover up to 80% of the employee's gross earnings, including P11D benefits and any dividends paid where this is directly linked to their performance within the business
- The option to cover employer National Insurance contributions and any pension/life insurance premiums paid in relation to the insured person
- Benefits that can be paid on a level basis, or arranged from the start of the policy to protect against inflation - increasing at either a fixed rate of 5%, or in line with the Retail Price Index (RPI) - up to a maximum of 12% per annum
- A Disability Plus Option that increases benefits in payment by 20% after the first two years of a claim
- A lower-cost option with a choice of 2, 3 and 5 year benefit payment periods
- ‘Guaranteed Increase Options’ that enable cover to be increased without further underwriting on every third policy anniversary or at key life stages, such as marriage, having children, or in the event of a promotion-related salary increase
Benefit options
Unum provides Executive Income Protection customers an extensive range of benefit options including:
- A generous maximum initial benefit of up to £300,000 a year
- Cover based on the executive's own occupation
- No premiums payable while benefits are being paid - free waiver of premium automatically included
- Flexibility - benefit is paid direct to the employer, so it can either be passed on to the employee through PAYE or retained to support the business
- Inflation protection - cover will be automatically increased each year in line with Retail Price Index (RPI)
Why choose usInsurance with a difference
Our Executive Income Protection policy offers flexible cover options and a number of features to support your clients when they need it most.
Flexible cover options to suit budget
A benefit of up to 80% of earnings with a market-leading maximum annual benefit of £300,000.
No automatic medical reports
We won’t automatically request a GP report or medical because the benefit amount is above a certain limit. We only need further information if a medical condition disclosed on the application form requires investigation.
Guaranteed increase options
Increase the amount of cover available without the need to complete a new application or go back through the underwriting process.
No standard exclusions
There are no standard exclusions under our plan.
Portable cover if the employee leaves service
The plan can be switched to a new employer or into the employee’s own name without further underwriting.
Specialist support to help employees back to work
We have a team of specialists who can help to achieve a safe and sustainable return to work. Rehabilitation and reintegration programmes are an integral part of the claims management process and the support we provide.
Wellbeing calendarUpcoming events and webinars
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