Norwich Union has launched a group income protection product to replace its existing Safeguard policy.

It follows research that found 70% of companies recognised the benefits of income protection, but did not buy it.

The product offers:

  • cover for minimum of three employees but no maximum number
  • maximum benefit of £200,000: 75% of the first £160,000, minus state long-term incapacity benefit, plus 25% of earnings over £160,000
  • employer-paid national insurance contributions
  • single premium for schemes with less than 30 lives; unit rated for schemes with 30 lives or more
  • premiums can be paid annually by direct debit or cheque and monthly by direct debit with 4% loading
  • the termination ages are 55, 60, 62 and 65
  • non-selection limit may be applied to schemes with 10 lives or more, creating a benefit level below which medical evidence will not usually be required
  • AIDS/HIV cover can be included for an additional cost
  • full cover is available pending terms providing the incapacity is not due to a pre-existing condition
  • definition of incapacity is on an “own”, “suited” or “personal capability assessment” basis
  • In addition, companies may opt to cover:

    35% employer paid pension contributions and 5% employee paid pension contributions to a maximum of £50,000.

    • The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

    Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
    Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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