Bright Grey and Scottish Provident are set to launch a range of improved income protection products by the end of next month.
The new products from the Royal London-owned brands will extend the availability of full own occupation cover, which covers customers who are unable to carry out their current position.
The range will also introduce an alternative definition for customers who work full time but are not offered the full own occupation definition.
Depending on the policy, some IP claims are based on “work-based tasks”, also known as “activities of daily living” which test whether the policyholder can complete certain tasks such as sight tests and walking 200m without discomfort.
Bright Grey and Scot Prov plan to replace their existing work task definition with a “modern alternative”.
Royal London intermediary division chief executive Hugh McKee says: “We recognise when it comes to IP policies own occupation is the most valuable level of cover, which is why we want to make it available to as many people as possible.
“We have analysed the needs of our customers and intermediaries to create a product that will meet their needs both now and in the future and look forward to overcoming the issues associated with customers’ understanding of what they are and are not covered for.”