Group Permanent Health Insurance (PHI)

Group PHI or Income Protection as it is sometimes known is an insurance policy issued to an Employer providing long term sick pay cover for Employees.

Most of us rely on our salary payments to fund our current lifestyle, pay the mortgage, school fees, buy food for the family etc. Your ability to earn an income is one of the most valuable assets that you have.

Group PHI enables an Employer to provide long term insurance should one of their Employees become unable to work long term through illness or accident.

Cover is usually arranged with a "waiting period" at the start of any sick leave of at least 13 weeks so the insurance is only designed to cover serious long term sickness not just a few days off here and there. For larger schemes a longer waiting period of 26 weeks or even 52 weeks may be appropriate. The premiums reduce for longer waiting periods.

Every claim is assessed by the insurer based on medical evidence provided by the member's doctor. Once a claim is admitted, benefits are payable to the Employer who passes these on to the member via payroll. Usual payroll deductions such as Social Security and ITIS or ETI still apply.

A Group PHI scheme can also cover the Employer's pension contributions and Employers Social Security contributions for the duration of a claim.

All claims in payment will be subject to ongoing medical review. A claim stops when the member has recovered sufficiently to return to work, reached retirement age or dies.

Rossborough Financial have long experience of dealing with Group PHI schemes in the Channel Islands and can recommend a benefit structure suitable to your business. We remain involved with all claims on our policies liaising with the insurers on behalf of the Employer and the Employee to ensure that the process is as smooth as possible.

Contact us to discuss your requirements for Employees in your organisation.

Contact us

Rossborough Financial Services Limited

Email: enquiries@rfsl.co.uk

Jersey

Phone: 01534 500662
Fax: 01534 732262

PO Box 332, 41 La Motte Street
St Helier, Jersey JE4 9YA

Guernsey

Phone: 01481 241534
Fax: 01481 241535

PO Box 127, Rossborough House
Bulwer Avenue, St Sampsons 
Guernsey GY1 3HG

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