Scottish Provident widens IP occupation eligibility

Published on

Royal London

Scottish Provident has launched a new income protection product which gives an enhanced level of cover to a broader range of clients.

The new policy will now offer an own occupation definition to a wider range of occupations – for example surgeons, dentists and driving instructors – all of whom would not previously have been eligible for this definition.

Scottish Provident now offers two options for its income protection policies: an own occupation definition throughout the term or own occupation for one year, changing to a list of serious illnesses and everyday tasks thereafter.

People not working or working for less than 16 hours a week will be offered cover against a list of serious illnesses and everyday tasks.

Hugh McKee, CEO, intermediary division at Scottish Provident parent Royal London, said: “The decision to change the product comes after a considered assessment of feedback given by customers and intermediaries.

“By widening the eligibility of own occupation to as many customers as possible and providing a unique solution for those that aren’t eligible, we believe we’re delivering a value for money proposition.

“Combining own occupation, a serious illness list as well as everyday tasks creates a unique product which will make it easier for customers to claim on and in turn increase consumer confidence in income protection.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Pluto Finance hires Wales lending director

Pluto Finance has appointed Stephen Ryan as lending director for Wales, strengthening its commitment...

Masthaven joins BDLA

Masthaven has become the latest lender member of the Bridging & Development Lenders Association...

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Other news

Pluto Finance hires Wales lending director

Pluto Finance has appointed Stephen Ryan as lending director for Wales, strengthening its commitment...

Masthaven joins BDLA

Masthaven has become the latest lender member of the Bridging & Development Lenders Association...

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...