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5 Aug 2020

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Income Protection News

Aviva boosts its maximum income protection benefit limit

Consumers looking for income protection cover could benefit from changes introduced by insurance provider Aviva.

The firm has decided to significantly boost its group income protection maximum income benefit limit and employer pension fund contributions, ensuring it has the most generous maximum benefit formula in the market.

While the maximum income benefit limit has been boosted by £50,000 from £300,000, the employer pension fund contributions has been increased by £25,000 to £75,000.

According to Andrew Stephenson, group risk national sales manager, Aviva UK Health, the company "is totally committed to being a leading force in the group risk market".

"Increasing our maximum benefit limit and employer pension fund contribution to £350,000 and £75,000 respectively puts us at the forefront of the market."

He went on to state that the move is another "prime example" of the company's desire to meet consumers' needs by continually improving protection requirements.

The news is a welcome development for consumers who were recently advised by the Independent to consider protecting their earnings with such products.

According to the newspaper, having income protection cover is especially vital in the current financial climate and unstable employment situation.

 

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