Adobe provides income protection cover of up to 75% of your base salary if you are absent from work for 26 continuous weeks due to illness, accident, or injury. Adobe benefits are provided through our insurer, Generali. Benefits would be reduced by any amount of state benefit that is payable.
The cover also provides access to additional benefits such as Best Doctors (a second opinion for medical issues) for Adobe employees and their families and access to Eldercare (advice around caring for elderly relatives).
Who’s eligible?
All employees are automatically enrolled on the date of hire, provided they are actively at work.
Being active at work means you:
- Have not received medical advice to refrain from work and are actively following your normal occupation
- Are working your normal number of hours required by your contract of employment, either at your normal business address or at a location to which you are required to travel for business
If you are not actively at work, cover will commence from the day you return to full-time active employment. You may be contacted by the insurer if further medical evidence is required.
If your salary is above £186,000 you may need to provide medical evidence in order to be underwritten for any benefit based on a salary above this level.
What’s covered?
Income protection is provided by Generali. The benefit is payable after 26 weeks of continuous absence from work due to illness, once you have provided medical evidence and the insurer has accepted the claim.
Upon approval by the insurer, the benefit will be paid until you either return to work, reach the state pension age or leave employment, whichever occurs first. Payments are subject to the insurer’s terms and conditions and regular medical reviews.
Benefits are paid to you by Adobe and are treated as salary and, therefore, are subject to the normal statutory deductions such as income tax and National Insurance contributions, as well as any pension fund contributions that may be payable.
The benefit payment will increase annually, in line with inflation, up to 5% per year.
Income protection FAQs
How long will I receive income protection payments, if I apply successfully?
Payment continues until one of the following events occurs:
- You return to work.
- You turn 65 or your State Pension Age (if higher).
- You leave Adobe.
Is this a taxable benefit?
The Inland Revenue does not currently classify the premium paid for Income Protection as a benefit-in-kind, and, therefore, it is not taxable. If you will be in receipt of the insured benefit, it would be subject to income tax in the usual way.
What happens if I leave Adobe?
Your membership in the plan will cease on the day you leave Adobe.