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Canada Life updates group income protection

Canada Life has increased the limit on the maximum free cover for its group income protection from £90,000 to £100,000.

The insurer has also increased the forward underwriting bar on group IP from 10 per cent to 25 per cent of total benefit and removed the five year time limit so the forward underwriting bar remains valid indefinitely.

Any lives that have been medically underwritten and accepted with a loading of up to +100 per cent for group life and +50 per cent for group IP will now receive a forward underwriting bar.

Head of marketing Marion Ware says: “We are delighted to be able to announce these product updates which will enable us to offer a more competitive service to our customers. These changes will allow us to streamline our underwriting processes. Consequently, we are now able to devote more time to those schemes which require more specific underwriting – allowing us to speed up the whole process for advisers.”

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