An Executive Income Protection plan provides a cost effective way of protecting both your and /or a key employee’s income in the event of an accident or illness.
Key Benefits of Executive Income Protection for Employers:
-Protect the income of directors and selected key employees
-Option to protect employer pension premiums
-Attract and retain high calibre employees by providing access to a best in class employee benefit
-Manage the cost of absence for your business
-Contributions to an Executive Income Protection plan may qualify as an allowable business expense for tax purposes
-Provision of Executive Income protection promotes greater loyalty from employees
Key Benefits of Income Protection for Employees:
-Peace of mind if illness or injury means they cannot work resulting in a loss of income
-Benefit in payment automatically protected against inflation
-No need to be totally reliant on Social Welfare
-The monthly premium will be paid by the employer
-If the employee is unable to return to work, the plan will continue to pay an income untilthe selected ceasing age (55, 60 or 65), should they continue to meet the policy claim criteria
-Can be tailored to compliment the company’s sick pay arrangements.
If you would like to discuss this further, please do not hesitate to contact me.
