Executive Income Protection can help small business clients by protecting against the financial impact of their employee becoming ill or injured and unable to work.

The plan is designed to pay a monthly benefit to the business in the event of a valid claim. This can be used to fund the employees ongoing sick pay so they can meet their financial commitments whilst not leaving them to rely solely on their savings or state benefit.

Cover can include the employee’s earnings, dividends and P11D benefits. Additional cover can be arranged at an extra cost to cover employer pension contributions and National Insurance (NI) contributions.



Key features and benefits



Fast underwriting decisions

83% of underwriting decisions receive an instant decision.

Additional cover options

Cover employer National Insurance and/or employer pension contributions for an additional cost.

Changing Your Policy option

Allows your client to increase cover on specified events, without further medical questions. Eligibility criteria and restrictions apply.

Protect against inflation

Option to choose increasing cover, which increases in line with the changes in the Retail Prices Index.

Includes Waiver of Premium

Your client won’t have to pay their premium while the benefit is being paid.

Cover can include spousal earnings

Cover may also include taxable earnings payable to the employees’ spouse or civil partner by the policy owner during the same period which would stop because of the employees’ incapacity. Please see Policy Booklet for details.

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Product details

For full details, see key documents for the policy summary and policy booklets

Cover overview

For full details, download the Product Profiles PDF: 905KB document.

Minimum cover
  • No minimum amount of cover. Driven by minimum premium
Maximum cover
  • 80% of earnings up to £25,000 per month/£300,000 per year (level cover)
  • £17,500 per month/£210,000 per year (increasing cover)
Employer pension contributions
  • Maximum £40,000
  • Additional cover option available for an extra cost
Employer National Insurance contributions
  • Maximum £42,500
  • Additional cover option available for an extra cost
Type of cover
  • Only available as a single life plan
  • Level and increasing cover available
  • Increasing cover increases in line with changes in the Retail Price Index up to a maximum increase of 10%. The premium increases in line with the change in the Retail Prices Index multiplied by 1.5 subject to a maximum increase of 15% per year
Minimum term
  • 5 years but cannot end before 50th birthday
Maximum term
  • Policy must end after employee’s 50th birthday but before their 70th birthday or planned retirement date, whichever is earlier
Minimum age
  • From employee’s 18th birthday
Maximum age
  • The day before the employee’s 60th birthday
  • Payable monthly by Direct Debit

Benefits and options

Changing your policy (previously known as Guaranteed Insurability Option)
  • Can increase cover on certain specified events, without need for further medical evidence
  • Eligibility criteria and restrictions apply
Other changes
  • Your client can request to make other changes to their plan. A new policy may need to be set up
Deferred period
  • Your client can choose from 4, 8,13, 26 or 52 weeks
Linked claims
  • Included
Limited benefit period
  • Optional. The benefit for any individual claim is limited to 12 or 24 months, depending on which option is chosen from outset
Proportionate Benefit
  • Included
Rehabilitation Support Service
  • Included at the point of claim
Wellbeing Support
  • Access included. Service provided by RedArc Assured Limited
Waiver of Premium
  • Included

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