Long Term Disability / Income Replacement

What is group income replacement?

Group income replacement (also known as Group PHI) provides a replacement income, via the company pay-roll if an employee is unable to work as a result of a long-term illness or injury.

This benefit is paid after they have been absent for a predetermined time, known as the deferred period, which can be anything from 3 months to 2 years.

The insurer will continue to pay perks until the employee returns to work or until their normal retirement age, although it is also possible to get a limited payment term policy, which will pay out for up to five years.

Use our market knowledge to make sure that the right terms are used – and the right premium paid – to reinsure your company payroll to reflect your business objectives.