Yesterday, (17 October 2018) the financial effect of absence from work due to mental health problems was debated in Westminster Hall*. Rising up the workplace agenda, the role employers (and particularly SMEs) need to play is becoming increasingly central, and Group Income Protection in particular has been recognised as being a fundamental tool for employers to use to help.
Commenting on the debate Katharine Moxham, spokesperson for GRiD said: “The role of employers in supporting those dealing with mental ill health has been seen as crucial, and rightly positively debated in Parliament. Income protection insurance through the workplace (Group Income Protection) has been justly recognised as a positive way for employers to provide a financial safety net and to enable them to help support people back to work.
“We will be working closely with Government and the new Single Financial Guidance Body on extending the reach of Group Income Protection and will continue to promote it so that more people have access to this valuable benefit through their workplace.
“Support for mental health as part and parcel of Group Income Protection products is wide-ranging for people dealing with mental ill health:
- It gives fast access to the help that they need and the opportunity to stay in work.
- It provides a replacement income for any extended period off work.
- The support that comes along with Group Income Protection helps to get people back to work after a period of sickness absence.
- It helps employers to make reasonable adjustments to support a return to work.
- It reduces the cost for employers and Government of long-term sickness absence.
- Furthermore, support is also available to help with preventing absence, managing mental health and encouraging better health behaviours.
“In the debate, Group Income Protection was described as a product that is ‘working well’ and, through our involvement in the DWP's Access to Insurance Working Group, we will work towards addressing the challenge to encourage more SMEs to use Group Income Protection to support their employees better through periods of mental and other ill health.”
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Please scroll down to 4.30pm Mental Health Absence from Work
For further information please contact:
SMUK Marketing and PR
Mob: 07747 611773
Land: 01252 843350
Spokesperson for GRiD
Mob: 07887 512508
Notes for editors
Group Risk Development (GRiD) is the industry body for the group risk protection sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their wellbeing and improving employee engagement. Our membership includes insurers, reinsurers and intermediaries who have a collective wealth of experience built over years of operating in the group risk protection market. Under the chairmanship of Steve Bridger (MD Group Protection, Corporate, Aviva UK Life) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.
GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry's standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.
GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.
GRiD's dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.
Follow Katharine Moxham on Twitter @KMoxham