Amongst improvements to the terms and conditions, Ellipse has broadened the offering to larger employers and also added capability to provide flexible benefits. The improvements build on the existing proposition which includes an employee assistance programme, day one early intervention and vocational rehabilitation.
Lee Lovett, Ellipse CEO said, ‘We’ve built up good experience in the SME market over the last few years, and with future growth and expansion plans in mind, now is the perfect time for us to expand our Sick Pay proposition to make it available to the whole market, alongside other improvements to the product itself.’
Sick Pay will now be available for any employer with two employees or more, with no maximum. Other improvements include a lump sum payment option following a limited term, a higher maximum benefit, more options when covering pension scheme contributions and greater flexibility to accommodate different state benefit deductions.
Lovett added: ‘Group Income Protection is vital cover, often undersold in our market. We recognise its potential and our role to not only build on our strong presence in the SME market, but also expand the offering to provide cover for large employers – a number of whom may provide benefits on a flex basis. As we work towards our integration with AIG Life, improving our products so they appeal to more employers is a top priority, and GIP is first on the list.’
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