PG Mutual Income Protection PlusIncome protection that gives back to its policyholders - get 20% off your first two years*

Protect your savings while building a lump sum for your future.

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What is income protection - and why does it matter? 

Like everyone else, you have monthly overheads. Rent or mortgage payments, insurance premiums, the weekly food shop. You name it. But have you considered how you would cover your overheads if you were suddenly unable to work due to extended illness or injury? Nobody likes to consider the unexpected, but it can happen to anyone - from sports injuries to freak accidents to complex viruses.  

Most employers have a limit on the amount of sick pay you can claim, if any. After that you are left to rely on the government’s Statutory Sick Pay: £92.05 per week^. Self-employed? You would need to apply for Employment and Support Allowance: £57.90 - £110.75 per week^ depending on your circumstances.

Be honest with yourself. Would those figures cover your monthly expenses? If not, you could find yourself denting your savings or applying for a loan. But with PG Mutual you can get cover for up to 70% of your income if you are unable to work through sickness or injury. So you can concentrate on getting better, with the peace of mind that your overheads are taken care of. And there’s more...

Protect your present, build for your future  

Income protection with PG Mutual isn’t like other insurance policies. As a not-for-profit, they share their profits with their policyholders. When you join you will be assigned a capital account that they aim to top up year-on-year. PG Mutual even add interest from their investments to help the pot grow faster.

Once your policy matures, the funds in your capital account can be paid to you as a lump sum. This lump sum could be free from income and capital gains taxes under current legislation (depending on your individual circumstances). No matter how many times you claim you will still receive a share of any profits they make.

Why choose PG Mutual? 

  • Save 20% on your first two years of premiums
  • Up to 70% of your income (or up to £1200 per week) can be covered until you are well enough to return to your career (or reach age 65, whichever comes first)
  • Simple online claims process with some claims paid within 24 hours
  • Between 2015 and 2017 they paid out on 98% of claims, totalling £1.44 million
  • No penalties, excess payments or premium hikes if you make a claim
  • Unlimited claims for the duration of your policy
  • Build towards a lump sum that you receive when your policy matures 

Everyone likes a little extra...

New additions to PG Mutual’s policies mean you get even more for your money as a policyholder.

Enhanced Loyalty Bonus protects your nearest and dearest

PG Mutual policyholders can now receive an Enhanced Loyalty Bonus* that aims to provide your loved ones with a minimum capital sum of £10,000 as well as six months of income cover if you die before the maturity of your policy.

Taking care of your mental and physical health just got easier...

You can also benefit from free use of a 24/7 app-based GP service**. It puts healthcare in the palm of your hand with instant access to a GP - anytime, anywhere. A confidential telephone counselling service is also available whenever you feel the need to talk.

Save money on thousands of products - every time you shop*

Treat yourself to the latest tech gadgets. Conquer your fitness goals. However you spend your money, you can do it for less as a PG Mutual policyholder.  Access current discounts or cashback deals with a range of top brands including Currys PC World, M&S and Virgin Active.  

The AIA has negotiated a 20% discount on your first two years premiums.*

For details of this special offer visit and enter discount code ‘AIA’ or call 0800 146 307.

^Under current legislation, DWP, April 2018.

*This applies to existing members as well. Terms and conditions apply. See

**This service is currently free of charge with your membership.

PG Mutual is the trading name of Pharmaceutical and General Provident Society Ltd. Registered office: 11 Parkway, Porters Wood, St Albans, Hertfordshire AL3 6PA. Incorporated in the United Kingdom under the Friendly Societies Act 1992, Registered Number 462F.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Firm Reference Number 110023.


Have You Considered Income Protection as Part of Your Business’s Employee Benefit Package?

UK employers are not always aware of what their responsibilities are when it comes to paying an employee who is off work sick. Some businesses do not have provisions for unexpected accidents or illness within their workforce, and don’t understand the legal implications of this. This could result in unbudgeted costs for a business, paying a staff member when they are unable to work over a long period of time due to illness or injury.

It could be easier and more affordable to your business than you think to provide income protection cover to your employees as part of their member benefits.

Employee benefits for today’s working force

Employee benefits are more important than ever to today’s UK work force. They can make your business stand out which in turn can attract the right, talented individuals to your business. Perhaps you already have a level of employee benefits in place. The needs of our employees and the benefits we offer them may need to be evaluated from time-to-time to ensure they still meet the expectations of our employees over time.

Have you taken a look at your employee benefits recently?

Income protection as an employee benefit

In a recent survey (Epoq May 2017), UK adults were asked how valuable a series of services were to them within their employee member benefits package.

It was found that income protection fell into the top 6 most valued employee benefits at 85%.

Income protection outweighed many of the traditional benefits including gym membership (62%) and child care vouchers (41%).

Furthermore, research shows that on average 1 in 7 employees are absent for 4 weeks or more each year with a serious illness or injury (Ellipse research 2016). State Sickness Pay (SSP) covers just a fraction of an employee’s salary (£92.05 per week, DWP, April 2017) and lasts just 28 weeks. After this, they may qualify for Employee and Support Allowance (ESA). It also could be down to your business to determine if it’s possible to provide the employee with a level of salary to support them during recovery or illness once SSP ends as well as potentially having to hire another person to cover their job role in the meantime. This could come at a substantial cost depending on your employee’s role level within your business. If this isn’t an option for your business, then it may be down to your employee to rely on their savings and the support ESA provides if they qualify. This could put your business in an unnecessary moral dilemma.

With illness or injury at this level, it may be worth considering an employee benefit that can provide your employee a percentage of their gross salary thus providing peace of mind for them during recovery so that they can get back to work sooner but also providing your business with a manageable illness or injury cost annually.

How does it work for your business?

Income protection insurance as an employee benefit can provide a replacement income to an employee should they be off work due to illness or injury. Income protection insurance typically covers a percentage of the employee’s gross salary during this period.

The replacement income provided can begin within the time from selected by your business. This can start from day one or you can select a deferment period of your choice, such as 7 days or 6 months.

The income protection plan you provide your employees would be easy to work into your budget and takes the guess work out of staff sick pay and the unexpected costs this creates.

What should I do next?

If you’ve established that income protection cover is something that your business needs to consider, don’t hesitate to get in touch.

PG Mutual provide Income Protection Plus plans at an affordable cost to employers. Please take a moment to find out what would make our Income Protection Plus plan beneficial for your business. For more details about Income Protection Plus, visit

Give us a call on 0800 146 307 or email us at

Alternatively, if you’d like to learn more about employer sick pay and your business’s requirements, you can check out Statutory Sick Pay (SSP): employer guide, by visiting