Group Income Protection Insurance: Pros and Cons for SMEs
At a Glance: Group Income Protection Insurance provides financial security to employees during long-term absences due to illness or injury. It helps SMEs attract and retain top talent by offering valuable employee benefits. The policy boosts workplace morale and productivity by reducing financial stress for employees. Employers may receive tax benefits, making it a cost-effective way to enhance staff well-being. Rehabilitation programs included in the policy support employees in returning to work smoothly. SMEs should consider premium costs, eligibility restrictions, and administrative efforts before opting for coverage. For small and medium-sized enterprises (SMEs), unexpected long-term employee absence due to illness...