Executive Income Protection

Executive Income Protection is a type of protection for limited companies and can help small and medium businesses (SMEs) by protecting against the financial impact of their employees incapacity on the business.

What is Executive Income Protection?

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.

Key Features

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.

Protecting your most important business asset

Knowing your client is protecting the interests of their most important business asset – their people - will help set their mind at ease.

Frequently asked questions

  • What can be insured under Executive Income Protection

  • Is Executive Income Protection a benefit in kind?

  • How is the benefit payable for a claim under an Executive Income Protection?

Relevant Life Cover

A life insurance plan available to employers to provide an individual death in service benefit for their employees.

Learn more

Have a question? Let’s talk