Executive
Income
Protection
Cover an employee with Legal & General
Executive Income Protection.
Introducing Executive Income Protection
If you run a small business, getting some financial protection for your key personnel can give you and your colleagues some peace of mind. Here, we explore how Legal & General Executive Income Protection works.
What is Executive Income Protection?
Executive Income Protection pays a monthly benefit to the business if your named employee is unable to work through illness or injury. The money can be put towards the employee’s ongoing sick pay so that they don’t have to rely on their savings or state benefits.
What does Executive Income Protection cover?
If you take out Legal & General Executive Income Protection, the policy can be used to cover your employee’s income from a range of sources, including:
- Earnings
- Dividends
- P11D benefits
At an extra cost, Executive Income Protection insurance can also cover:
- Employer pension contributions
- Employer National Insurance contributions.
Customer Contact
To discuss our Business Protection Plans, call us on 0800 197 9208.
Lines open 9am to 5pm Monday to Friday.
We may record and monitor calls.
Alternatively, email us on businessprotection@landg.com
Looking for the adviser centre?
If you are an adviser looking for support for your clients, our adviser and wealth management centre can provide all the information you need.
Key features and benefits
Fast underwriting decisions
83% of underwriting decisions are instant.
Changing Your Policy option
Allows you to increase cover on specified events, without further medical questions. Eligibility criteria and restrictions apply.
Includes Waiver of Premium
You won’t have to pay your premium while the benefit is being paid.
Additional cover options
Cover employer National Insurance and/or employer pension contributions for an additional cost.
Protect against inflation
Option to choose increasing cover, which increases in line with the changes in the Retail Prices Index.
Cover can include spousal earnings
Cover may also include taxable earnings payable to the employees’ spouse or civil partner by the policy owner during the same period which would stop because of the employees’ incapacity. Please see Policy Booklet for details.
Speak to a qualified financial adviser
If you'd like to discuss which type of business protection might suit your business, and for all other enquiries about business protection, email businessprotection@landg.com or contact Legal & General on 0800 197 9208 (9am to 5pm Monday to Friday). Calls may be monitored.
Related content
Relevant life insurance and tax
Find out more about how HMRC views the employee benefit, relevant life insurance, and how relevant life policy tax relief works with our guide.
Business life insurance
Running your own business is rewarding in many ways, but as a business owner you know there is a lot at stake, from financial responsibilities to professional relationships. Protecting your company with business protection insurance could offer peace of mind. Find out more in our helpful guide.
Key Person Insurance
Key person insurance, like our Key Person Protection, can help to protect your business against the financial effects of death, terminal illness (life expectancy less than 12 months) or a specified critical illness (if chosen for an extra cost at outset), of a key person while the plan is in place.
Shareholder Protection Insurance
Shareholder insurance can help avoid disruption to your business if one of the business owners dies, for example: a partner, director, or member. Find out more about Share Protection.