Group Income Protection
Financial Security and Support with Omny Benefits
Life is unpredictable, but your employees’ financial security doesn’t have to be. Group Income Protection from Omny Benefits provides a vital safety net if illness or injury prevents an employee from working long-term.
This employer-sponsored benefit ensures a replacement income for affected employees, helping them cover essential costs like mortgage payments, household bills, and childcare expenses during challenging times. Beyond financial support, many policies also include rehabilitation services, enabling employees to recover effectively and return to work with confidence.
At Omny Benefits, we work with you to tailor a Group Income Protection policy to your workforce, balancing affordability with comprehensive coverage. Our goal is to ensure peace of mind for both your team and your business.
Key Benefits
- Income Replacement: Financial security for employees unable to work due to illness or injury.
- Comprehensive Coverage: Support for a wide range of physical and mental health conditions.
- Rehabilitation Services: Access to physiotherapy, counselling, and occupational therapy.
- Flexible Payment Options: Choose policies with short-term or long-term benefit durations.
- Tax Efficiency: Premiums are often tax-deductible for employers, offering financial advantages for your business.
FAQs about Group Income Protection with Omny Benefits
While both offer income replacement during illness or injury, Group Income Protection is an employer-arranged policy, often making it more cost-effective than individual plans. Premiums are typically tax-deductible, and employees benefit from streamlined access without needing to apply individually.
Group Income Protection typically covers a broad range of physical and mental health conditions that prevent employees from working. This includes illnesses such as cancer, heart disease, back injuries, depression, and anxiety. Coverage specifics can vary between policies, and at Omny Benefits, we’ll guide you through the details to ensure your policy meets your team’s needs.
Most policies replace a percentage of an employee’s pre-disability earnings, typically ranging from 50% to 70%, often with a maximum monthly payout limit. At Omny Benefits, we’ll help you determine an appropriate level of coverage that balances affordability with comprehensive support.
Payment durations depend on the specifics of your policy. Some plans offer benefits for a fixed period, such as two or five years, while others may continue payments until the employee reaches retirement age, provided they remain unable to work.
Many Group Income Protection policies go beyond financial support, offering:
- Rehabilitation Services: Access to occupational therapists and physiotherapy.
- Mental Health Support: Counselling and therapy services.
- Return-to-Work Assistance: Tailored programmes to help employees transition back to work confidently. At Omny Benefits, we ensure these additional services are fully integrated into your plan for maximum value.
