In case of disability caused by illness or injury, Income Protection is designed to replace income if a person is unable to work for a long period of time.

The benefit starts after a deferred period, which can be coordinated with the company’s existing sick-pay arrangement. Income Protection is perhaps the most important insurance an employer can buy, especially for mobile workers with many years left until retirement.
 

LONG TERM DISABILITY (OR INCOME PROTECTION) 

Income Protection provides a steady monthly income, securing the continuance of standard of living such as paying the mortgage, medical bills, and children’s school fees. It is also possible to include an annual adjustment of benefits' payment to cover increased cost of living. The benefit may be payable up to retirement, or for a limited time of between one and five years. In some cases, the accompanying spouse* may be included in this coverage. 
 

TOTAL AND PERMANENT DISABILITY 

Total and Permanent Disability cover provides a monetary lump sum benefit in case an employee becomes totally disabled. The lump-sum settlement may be used to secure future standard of living, and/or reconstruction work at home to accommodate wheelchair access, stairlifts, etc. In some cases, the accompanying spouse* may be included in this coverage. Cover may be purchased for natural causes or accidental causes only – or a combination of both. 
 

PREMIUM WAIVER AS A RIDER TO LONG TERM DISABILITY 

This cover can relieve the employer’s financial liability to pay for the group life cover, pension contribution, and also social security contribution for an employee who is unable to work due to disability. 
 

CRITICAL ILLNESS 

In addition to life insurance, Critical Illness is very important as it provides a monetary lump sum benefit in case of serious illness. This “extra” amount of money provides financial freedom to clear debt, cover loss in income, support reduced working hours, or pay for additional care and treatment. 

A monetary lump sum benefit is provided to the employee if they suffer from (and survive the first 14 days) one of the following conditions: Alzheimer’s, Aorta Graft Surgery, Benign Brain Tumour, Blindness, Cancer, Coma, Coronary Artery Bypass Surgery, Creutzfeldt-Jacob Disease, Deafness, Heart Attack, Kidney Failure, Heart Valve Replacement or Repair, Loss of Independent Existence, Loss of Limbs, Loss of Speech, Major Organ Transplant, Motor Neurone Disease, Multiple Sclerosis, Paralysis/Paraplegia, Parkinson’s Disease (before age 65), Stroke, Terminal Illness, Third Degree Burns. 

In some cases, the accompanying spouse* may be included in this coverage. Employees may be covered up to the age of 65 if the employee is in a full-time occupation. A limited cover for children** up to the age of 18 is automatically included. This cover may either take the form of a multiple of salary or a fixed amount.
 

_{*Spouse = Married to the employee, the legally recognised cohabitant of the employee, irrespective of the person’s gender.} 

_{**Children = Any biological or legally adopted child of the employee or, subject to agreement between us, any child who was, in our opinion, financially dependent on the employee at the time of disability or critical illness.}