Group Income Protection Cover (PHI)

Group Income Protection Cover, also known as Group PHI provides an income if the employee is unfit for work for long periods because of injury, illness or disability. The cover can help everyone cope better with long spells off work. Employees know they can afford an appropriate recovery time and employers know they can plan their time and resources more effectively. By effectively managing illness and financially supporting employees could ensure any corrective treatment or counselling needed to help manage the employee's return to work as soon as possible is provided.

This is a standard benefit paid to the employer, providing an income based on a percentage of the individual's salary. The type of policy and recommendation will depend on a number of factors such as:

  • The range of illness definitions, different companies have different definitions on their plans, its important to look for a policy that will pay out as easily as possible with an excellent claims history
  • The level of benefit and whether you wish to allow for the deduction of state benefits
  • Whether you wish to increase the income payments, to compensate for inflation
  • The deferment period before payment starts
  • The claims payment period, for example 2 years or to retirement age
  • Do your employees need cover in overseas countries?