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Companies unaware of cost of group income protection

Most companies recognise the benefits of income protection yet still do not buy it, according to research by Norwich Union Healthcare.

The research shows 70 per cent of companies see how group income protection can facilitate staff recruitment and retention, but think they don&#39t need it or it&#39s too expensive, while 59 per cent of firms had no idea how much income protection would cost.

Norwich Union Healthcare product marketing manager Nick Homer says: “Income protection helps relieve employers from the burden of covering sick pay. This frees up money to fund absence cover so that other employees don&#39t have to take the strain of their absent colleague&#39s workload, and possibly risk going off sick with stress themselves.”

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