Personal Group has signed an exclusive agreement with Bupa to offer its voluntary group income protection (VGIP) product.
Staff fund the premiums via salary sacrifice, creating tax and national insurance (NI) savings for employees, as well as NI savings for employers. Premium rates are, on average, 30% to 40% cheaper than if employees sourced income protection themselves.
The plan will be underwritten by Bupa, but enrolment will be managed by Personal Group.
Caroline Jordan, head of VGIP at Personal Group, said: “We are delighted to be extending our offering by entering this new partnership with Bupa.”