Ellipse launches new income protection product

Ellipse has launched a second group income protection plan.

The plan, Interact, offers employers a 10% reduction in their premium if absences are notified promptly, or if no employee is absent for more than four consecutive weeks during a year.

It has also added single life policies to its group life product range, although these will only be offered to employers that also have registered group life cover with Ellipse.

The group risk insurer launched its InteractPlus product earlier in 2012, which combined traditional group income protection with an integrated absence management system.

John Ritchie, chief executive officer at Ellipse, said: “Offering group income protection without some mechanism for either guaranteeing or maximising the chances of absences being notified quickly just doesn’t make sense. 

“The process is critical, as we need to ensure appropriate, professional intervention can happen early enough to make a difference.”