Income Protection News
Friends Provident reviews income protection ceasing ages
Changing retirement legislation has prompted insurance provider Friends Provident to introduce amendments to its individual income protection products in favour of consumers.
The insurance provider has now increased the ceasing ages for its income protection cover to the age of 70 for individual cover and 65 for its doctors' product.
According to the company, only one other provider in the market has a customised product specifically targeting NHS doctors, who will get cover even during any sabbatical leave.
Mark Jones, head of protection at Friends Provident, said that the firm "continually strives to provide the best products and services" for both advisers and people looking for cover.
"These enhancements show our commitment to provide products that meet advisers' expectations and clients' ever-changing needs."
He went on to state that the company's "wealth of experience in providing these products on a quality technology platform" that incorporates interactive online processes will be beneficial to consumers.
Income protection insurance and unemployment cover are particularly vital in the current economic situation, which is impacting negatively on the employment front.
Bad news was recently delivered by the International Monetary Fund, which warned that the speed and strength of the economy's recovery remain highly uncertain.
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