Norwich Union Healthcare has launched Income Protection Solutions, an individual income protection product designed for the intermediary sales channel. It is not available direct to consumers.
It offers competitive terms with no standard exclusions, guaranteed and reviewable rates, flexibility of options such as limited benefit terms and retirement ages from 50 to 70 as well as being competitively priced products.
Nick Homer, marketing propositions manager at Norwich Union Healthcare, says "State incapacity benefit currently only provides £75.40 per week which for most people is nowhere near enough to meet their needs. Many people are vulnerable to the potentially devastating financial effects caused by long-term incapacity.
About Income Protection Solutions
- Guaranteed or reviewable rates
- Cover for up to 60% of first £25,000 gross earnings and 50% of the remainder, up to a maximum of £180,000
- A choice of retirement ages from 50 up to 70 years of age
- Option to reduce cost with a Limited Benefit Payment term paying benefit for a maximum of five years
- Deferment period choice of 4, 8, 13, 26, 52, 56, 104 and 112 weeks
- Guaranteed insurability option
- No standard exclusions
- Level or Index Linked (Retail Price Index) benefit basis
- Lump sum benefit on death during the first twelve months of a claim
- Access to Personal Health Manager - online and telephone based health management tool
- 24 hour GP Helpline and Stress Helpline