Income Protection Insurance For Employees
Income Protection Insurance For Employees is part of our Commercial Insurance policies. Loss of income in the event of a disability, illness, or death can cause significant personal and economic hardships for employees as well as their families. Failure to protect income during such events is indeed a challenge as the impact of income loss on the employee’s family can be devastating. However, looking at the whole picture, it can not only affect the person and his/her family but also affect businesses and society as a whole. So the need for income protection is on the rise due to tighter labour markets. Income protection insurance provides employees with the necessary financial support until they get back in health.
How does Income Protection Insurance work?
Why would you need Income Protection Insurance?
Employees who are the sole earning member of a family should opt for this insurance scheme. This will ensure that there is a regular income for the family even if he/she is around or cannot work. This plan is also apt for people who need an insurance plan that periodically takes care of increasing cost of living due to inflation. We all take loans and repay them to make sure that we provide our loved ones with everything that we can. However, in the case of an unfortunate event, it is essential that we don’t lose our income and provide our family with the necessary financial stability. Hence, income protection insurance serves as the much required monthly income plan that takes care of your family no matter what.
The significant benefits of choosing the plan are:
- These plans permit the nominees flexibility of receiving pay-outs at a duration of their choice.
- To account for inflation, the insurers also tend to increase the pay-outs by a fixed percentage every year.
- You can also make your claim as many times as you can while the policy lasts.
Other Commercial insurance policies
Medical Malpractice Insurance
This insurance will provide protection against third party claims for medical malpractices that occur covering the cost associated with it.
Business
Insurance
Business insurance is coverage that protects businesses against losses that may occur during the normal course of business.
Business Interruption Insurance
Understanding how business interruption coverage will protect your business can help you be more prepared in the event of an unforeseen natural disaster.
Professional Indemnity Insurance
Professional indemnity insurance, also called professional negligence insurance, is coverage for small businesses that protects against claims from their clients.
Marine & Aviation Insurance
Marine cargo insurance covers the goods, property and/or merchandise carried by a ship or aircraft.
Cyber Ransom Insurance
Cyber ransom insurance is designed to protect your business in the event of a ransomware attack.
Keyman
Insurance
This is taken out by a business to compensate for any financial losses that would arise from a death or injury of an important person.
Workmen’s Compensation Insurance
It provides coverage for your valued employees in the event they fall sick, get injured or lose their life during employment.
Business Protection Insurance
Hazards that can threaten your company in the future are diverse and very much unpredictable. you need to hedge yourself from all these risks.
Credit
Insurance
Credit insurance is an insurance policy purchased with the intention of protecting a business against commercial and/or political risk that is beyond the control of your company.
Employee Benefits Through Insurance
Employee benefits through insurance have become a crucial aspect of the modern workplace, playing a significant role in attracting and retaining top talent.
Commercial Property Insurance
We provide a tailored strategy to guard against calamities like fire happening to your assets like buildings, supplies, and warehouse stock.
Contractor All Risk Insurance
Contractor All Risk Insurance is part of our to cover against contracts and construction risks.
Corporate & Business Health Insurance
Corporate & Business Health Insurance serves not only as a mandatory legal requirement but also as a strategic benefit that businesses offer to their employees.
Fleet
Insurance
Whether you own a taxi company, car rental service, or delivery service, if your business relies on multiple vehicles fleet insurance is required.
Professional Indemnity insurance
The cost involved in health care today is extremely high and continuously increasing.
Strata
Insurance
Strata insurance provides the peace of mind that comes with knowing your strata property is covered in the event of damage to common areas.