Income protection insurance provides regular payments that replace part of your employees income if they are unable to work due to illness or an accident.
- pays out until you can start working again – or until you retire, die or reach the end of the policy term – whichever is sooner
- typically pays out between 50% and 65% of your income if you’re unable to work
- covers most illnesses that leave you unable to work – either in the short or long term (depending on the type of policy and its definition of incapacity)
- can be claimed as many times as you need to while the policy lasts.
It’s not the same as critical illness insurance, which pays out a one-off lump sum if you have a specific serious illness.
HubEx work with NFP to provide Employers with Income Protection for employees. If you use a different provider we can include your provider in your HubEx Employee benefit portal.
