Executive income protection solutions
Executive Income Protection can help small business by protecting against the financial impact of their employees’ incapacity on the business. Income protection insurance cover can include the employee’s earnings, dividends and P11D benefits.
How does executive income protection work?
An Executive Income Protection plan would pay a monthly benefit to your business in the event of a valid claim. Your business can then use this benefit to fund the employee’s ongoing sick pay if they are unable to work as a result of becoming incapacitated due to illness or injury. This can help your employee meet their financial commitments whilst not leaving them to rely solely on their savings or state benefits.
What is executive income protection?
If your employee become incapitated and is unable to work this insurance product can cover the employee’s earnings, dividends and P11D benefits. Additional cover can be arranged at an additional cost to cover employer pension contributions and National Insurance (NI) contributions.
What are the benefits of Executive income protection
Paid to the business
The plan will pay out in the event that the insured is unable to work due to illness or injury. However, rather than the benefit being paid to the individual directly, it’s paid to the business.
Protecting your most important asset - your employees
Can cover up to 80% of the employee’s earnings plus the employer’s National Insurance and pension contributions (maximum levels apply).