Executive Income Protection can help small business clients by protecting against the financial impact of their employees incapacity on the business.

Cover can include 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.

Overview

An Executive Income Protection plan would pay the monthly benefit to the business in the event of a valid claim, the 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 the employee to meet their financial commitments whilst not leaving them to rely solely on their savings or state benefits.