Standard Life is launching a new set of income protection products on December 1st 2006.
The main new product will be a guaranteed rate policy
New features include cover while not in paid occupation – which covers someone for five years if they go on maternity leave and become too ill to work or decide not to go back to work – and a guaranteed option to increase cover on events such as marriage, promotion or an increased mortgage.
Improvements will also be made to existing reviewable rate products
Standard Life will initially be targeting older people.
The maximum benefit level is £125,000.