Home topics workplace hr-and-staff Legal Managing Staff Legal Reasons to consider group income protection insurance Guest Author February 16, 2012 Never heard of group income protection insurance? Well, it offers benefits for business owners as well as the pool of employees it covers. Here’s why you should look into covering your employees with group income protection. There’s still a substantial proportion of people in Australia who are new to the entire idea of income protection insurance . So, it’s unsurprising that not many people have heard of group income protection insurance, though the concept is very simple! Group income protection insurance is most often taken out for a pool of employees through a workplace. Each employee is covered by the same policy conditions, and usually has the same premium to pay. Group income protection insurance then offers a range of benefits, both to your employees and to your business. Here are the vital facts about this insurance type. What does group income protection insurance cover? If an employee covered under your policy is ‘totally disabled’ or ‘partially disabled’ and therefore cannot work, the group income protection policy pays a benefit. The disability may be due to either illness or injury, but it must prevent your employees from carrying out the important duties of their job. How does it differ from individual policies? All group income protection policies are individually created, and will differ amongst themselves. However, the main contrasts with a privately purchased income protection policy are: There is a