Keeping up with the times with more choice and flexibility
Group Income Protection - keeping up with the times
Changes in the market
With the changing dynamics of today's workplace, employers' and employees' needs from their insurance products have changed almost as dramatically as their take on health and employment. No longer do individuals expect to stay with the same employer for life. Budgets are tight so employers want more control over their benefit schemes. They want to be sure they're getting real value for money.
More flexibility, more choice
All this has made Aviva more aware than ever that greater flexibility and choice is needed for Group Income Protection. "As well as being a well known brand in the Group Risk market, Aviva has proven experience in managing claims and expert rehabilitation capabilities which forms the basis of our Group Income Protection offering," says Andrew Stephenson, Group Risk National Sales Manager, Aviva.
Options to benefit your clients
Although the core offering of Aviva's Group Income Protection hasn't changed, its latest improvements mean that you can now offer more cost-effective solutions to your clients. These are:
NEW lump sum payment - this means the employer chooses a limited payment term with a lump sum of up to five times salary or nine times benefit payable when it is completed
NEW direct payment - the employer can choose for the benefits to be paid directly to their former employee
A product that ticks all the boxes
Together with its other features, Aviva's Group Income Protection is a great choice that could really help your clients and their businesses in what can be difficult times:
√ Low cost cover - from as little as 0.2% of an employers payroll costs
√ Cover up to 80% of an employee's earnings - up to a maximum of £350,000 basic benefit per year
√ Wide choice of deferred periods - payment beginning after 13, 26, 28, 41, 52 or 104 weeks
√ Less medical evidence needed - our maximum Free Cover Limit is now £120,000 and we offer "once only" medical underwriting
√ Added value extras - such as Personal Health Manager, 24 hour GP and Stress Counselling Helplines; reduced gym membership costs
√ Choices that control costs - such as limited payment terms and different benefit termination ages
√ Choice of level benefit - or escalating at 3%, 5% or LPI (capped at 5%) which may better reflect the true cost of being away sick
A product that could really benefit a business
If your client wants to know how Aviva's Group Income Protection could help them in the day-to-day running of their business, here's how:A product that could really benefit a business
If your client wants to know how Aviva's Group Income Protection could help them in the day-to-day running of their business, here's how:
• Professional and personal claims service
Aviva's Corporate Case Management team gives your clients dedicated personal support when discussing their claim, either face-to-face or on the telephone.
• Fast, effective back-to-work scheme
At the initial claims stage, Aviva's Rehabilitation Service Centre can also put in place processes to support an employees' recovery, including funding for appropriate early intervention. Claimants have access to external medical expertise plus medically qualified staff and Rehabilitation and Claims Advisers.
• Maintaining employees' health
Added value extras such as our online health management portal lets employees monitor their health and fitness. This offers prevention benefits from the outset - by helping those employees who aren't even ill.
• Peace of mind protection
Aviva has one of the largest Group Risk claims teams in the market dedicated to supporting your clients, so you can be sure they'll be well looked after.
Service: at the heart of everything we do
Aviva puts customers' needs at the heart of the business. Aviva's Group Income Protection, like all our other products and services, is designed to meet the changing needs of the market. Our staff all work to make things easier for you and your clients.
A strong organisation with a wealth of experience
Combined with this, Aviva has the financial strength, size and experience to reassure customers that our policies are secure. We are the world's fifth largest insurance company and have been offering Group Risk products for nearly 50 years.
There's only one choice to make
According to Pam Stephens, Group Risk Development Manager, Aviva, there's one clear choice in the Group Income Protection market: "We've really spent time focusing on how to make our Group Income Protection the best we can. The result is a product which has more choice and flexibility with the strength and stability of Aviva behind it. It's well worth considering."
To find out more about our leading Group Income Protection, please visit aviva.co.uk/healthcarezone
Paul Bruns and Elaine Parkes
3,000 left to transfer
Record numbers of people aged 90 plus
From 3 to 10 October