Companies benefit from early notification bonus amendment

Legal & General is adjusting the bonus for early notification on its group schemes by reducing the minimum number of lives covered needed to qualify for the feature from 500 to 250. The benefit gives a 5% rebate on premiums for companies that notify the provider of at least 80% of long-term absences, which it counts as sick leave exceeding four weeks. L&G has also responded to developments in employment law by saying that group income protection (IP) products can help plug the growing chasm in workplace contracts. It spoke out following the rulings over holiday pay from the European C...