A quarter of small firm respondents have never heard of group income protection (GIP) products according to research conducted on behalf of Legal and General.
The Legal and General group protection product research 2012, conducted by Reed Business Insight, also showed that of the 400 respondents, two-fifths had only heard of the term, but could not explain what GIP products offer. Only 18% of the employers surveyed said they were familiar with GIP and the organisations that provide it.
Diane Buckley, managing director of group income protection at Legal and General, said: “These figures show that many small employers are struggling to ensure that good quality support is in place to help employees. It is concerning that over half of small businesses are unaware of group income protection products and the difference these can make.”
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