Executive Income Protection Plan Overview

This guide outlines the Executive Income Protection plan designed to mitigate the financial impact of employee incapacity on businesses. It details how the plan can cover not only an employee's salary but also dividends and various employee costs such as National Insurance and pension contributions. The document explains the benefits of the plan, which includes a monthly benefit that can assist businesses in funding enhanced sick pay for employees unable to work due to illness or injury. It also discusses the eligibility criteria for coverage, emphasizing that it is primarily for employees of UK businesses, including salaried directors. Furthermore, the guide provides information on tax relief for premiums, maximum benefit calculations, and options for increasing coverage over time. Additional services such as rehabilitation support and well-being assistance are also highlighted, which aim to facilitate a quicker return to work for employees. The document serves as a comprehensive resource for understanding the features and advantages of the Executive Income Protection plan.