Investing in the long-term future of your employees

With advances in medicine, today your employees are more likely to survive a serious illness than die from it, so income protection insurance is now just as important as life insurance.

Income protection insurance, or long-term disability insurance as it is also known, is designed to provide employees with an income when they are absent from work for a long period of time due to illness or accident.

GLOBAL INCOME PROTECTION KEY FEATURES

ü	Regular replacement income	The plan pays a regular monthly income equal to a percentage of your employee’s pre-disability salary. You can insure up to 75% of their salary. Benefit commences after a deferment period of three, six or twelve months of disability. The benefit can remain level, or it can include an annual escalation rate to provide protection against future inflation.
ü	Benefit  payments	Once your employee’s claim has been accepted, they will start to receive their monthly income benefit. They will continue to receive benefit for a period of up to 24 months whilst they are totally unable to return to their own occupation. After they have received benefit for 24 months, they will continue to receive benefit if they are totally unable to return to any occupation for which they are reasonably suited by way of education, training or experience. If after 24 months your employee is able to return to a different occupation, even if it is a less well paid occupation, their benefit will cease. Benefit payments automatically cease upon attaining retirement age or upon death. Waiver of premium during the period of a claim is available as an additional benefit.

VALUABLE OPTIONAL ALTERNATIVE

Total and Permanent disability Protection

Total and Permanent Disability Protection is an alternative and less expensive solution to Income Protection where the benefit is paid as a lump sum in the event that the employee is totally, permanently and irreversibly disabled.