View more on these topics

Bupa boosting group income protection deal

Bupa has upgraded its group income protection product with changes including improved free cover levels, simplified and higher maximum benefits, improved advance underwriting and increased non-medical limits.

Maximum free cover levels will now be £65,000 for schemes with 10-99 lives, £75,000 for schemes of 100-299 lives and £90,000 for 300 or more.

The maximum benefit formula will be 75 per cent of salary minus the state single person&#39s long-term incapacity benefit subject to an overall maximum of £175,000.

The company says members accepted at ordinary rates on standard terms will not be underwritten again for five years unless their benefit increases by more than 10 per cent, which it says means that fewer members will need to have medical exams.

The changes are just the start of the work that Bupa says it is doing to make its group protection more competitive in the market and to offer greater choice.

Director of group risk Graham Clark says: “Bupa is committed to the group protection market, demonstrated by the recruitment of a new team of people earlier in the year to enhance its expertise in this area. The package of changes to our group income protection offering is just the start of the work we are undertaking to make Bupa group protection more competitive in the market and offer greater choice to advisers and their clients.”

Recommended

Out of context

•”I&#39ll never be too high and important to speak to you.” – FSA press officer Rob McIvor about his promotion to head of media and web communications at the regulator. •”Maybe I will occupy my time writing a mortgage murder mystery.” – London & Country&#39s David Hollingworth ponders how he will amuse himself during jury […]

Talkback

“Yes. I think IFAs want to simplify their lives with the complications of compliance and searching the market and so on. Many IFAs have their own panels anyway, so they would just be streamlining them.”Pravin Bhatt, Bhatt & Associates “I don&#39t know, I&#39m a small IFA and I&#39ll be staying independent. I plough my own […]

Close Bros release deal for estate planning

Close Brothers is to set up a wealth management equity-release product with Isle of Man Assurance. The product is designed to help people to manage their estates for tax purposes and is described by a source as an equity-release/estate management product. It is being launched with the backing of Equity Release Services, which has designed […]

Deeds of miscontent

In this year&#39s Budget, it was made clear that where a person uses a deed of variation to give up an interest in an asset under a will but continues to enjoy a benefit from what has been given up, this will not trigger the proposed income tax charge under the pre-owned assets rule. That […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com