The worst time to receive surprises related to your group cover is at claims stage, and one of the areas that has thrown up a few surprises is that of employer waivers.

An employer waiver is a rider benefit that can be added to income protection. It allows an employer to insure contributions that it is making in addition to a salary.

An important but often overlooked point is the need to identify what the employer waiver needs to cover:

Whatever makes up the total employer contribution, please remember to include them all in your employer waiver when calling for quotes.

This doesn’t only apply to new quotes though and it’s worth checking your existing client structures as well so changes can be made at review, if necessary.

Vol. 10 Issue 4