Executive Income Protection

This is designed for small businesses to cover the cost of providing sick pay benefits to a key employee, including salaried directors.

Set up by the business, it pays out a monthly benefit to the employer who then passes it to the employee via PAYE, with optional cover for the employer’s pension scheme contributions and employer’s National Insurance contributions if required.

Why choose Executive Income Protection

• Small businesses don’t have the scale to qualify for group risk schemes, but a competitive employee benefits package could help them attract and retain the right employee base.
• Covers up to 80% of the employee’s earnings plus the employer’s National Insurance and pension contributions (maximum levels apply).
• Usually counts as a tax-deductible expense for the employer
• More tax efficient than personal Income Protection cover for the employee.