ACE Group has launched an income protection product, Sickpay Plus, where claims can be made from 8 days after an individual is signed off as sick or injured.
The policy is offered at no cost to the employer and is paid on top of statutory sick pay.
Payments are paid back to the very first day that an employee is signed off by a doctor as being unable to work.
The firm said that Sickpay Plus can be tailored to suit the needs of the individual employee, with a choice of cover levels and waiting periods to help fit with any sick pay provision that the individual may already have in place.
Benefits are paid directly into an individual's bank account for the period that the individual is signed off work, up to a maximum of eight months for certain conditions
Discounts are available for non-smokers and those within required height and weight thresholds.
Andrew Taylor, chief operating officer of workplace benefits at ACE European Group, said: "Our research, combined with our experience of dealing with individuals and business customers in industries of all shapes and sizes in the UK, shows us that there is a genuine demand for a product that provides the individual with peace of mind if they become ill.
"Sickpay Plus has been designed to complement existing occupational sick pay schemes and is flexible enough to suit the employee, offering a choice of waiting periods. Importantly, this solution also brings employers a valuable addition to their employee benefits programmes, helping to attract and retain the best talent in an increasingly competitive climate for recruitment."
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