Insuring against long-term sickness absence

For some employers – particularly Small Medium Enterprises (SMEs) – the unexpected burden of absence may be difficult to bear. Group Income Protection (GIP) can offer benefits for all.

Employers and employees experience considerable disruption during long-term sickness. For absent employees it can be a stressful and worrying time.  For their colleagues, workloads may be stretched by taking on extra tasks, affecting morale. For employers, particularly SMEs, losing valuable staff can affect productivity levels and wasted time can be spent seeking temporary replacements.

The abolition of the Statutory Sick Pay (SSP) Percentage Threshold Scheme in 2014, stopping employers recovering SSP from the government, increased the burden on the employer. The expected reduction in longer term state benefits and the increasingly rigorous qualification process further diminishes the possibility of relying on the State during sickness absence.

Now seems like a good time for all companies, especially SMEs, to insure against the losses caused by long-term sickness absence.