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Friends targets IFAs with bespoke protection plan

Friends Provident is aiming at IFAs with its new multi-benefits protection plan.

The Select Protection Plan allows customers to choose any combination of cover from the five types available, including life, life or earlier critical illness, critical illness, income protection and houseperson&#39s cover.

The mix and match benefits enable IFAs to create a bespoke portfolio suited to their client&#39s individual needs and provide the flexibility to meet changing lifestyles and requirements.

The plan allows benefits to be added or

removed, increased or decreased at any time.

Waiver of premium is included automatically under income protection and houseperson&#39s cover and is offered as an option for life, life or earlier critical illness and critical-illness insurance.

The plan is available only through IFAs. A 5 per cent discount is available on income protection and houseperson&#39s cover for customers who combine them with life or life or early critical-illness cover.

Premiums start at £7.50 a month on the life, life or earlier

critical-illness and critical-illness cover and at £10 a month for the other types of cover.

Managing director of retail operations Ben Gunn says: “Making sure the family is financially protected is a must for everyone.

“The Select Protection Plan gives IFAs the opportunity to give their clients financial peace of mind by advising them on the level of protection they need today, with the flexibility to add to their cover to meet changing circumstances in the future.”

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Friends Provident has introduced a cafeteria style protection product aimed at the family and mortgage protection market.The Select Protection Plan consists of five types of cover critical illness, life cover, income protection, life or earlier critical illness and houseperson&#39s cover. Cover is increasingly important for people who have a mortgage as they risk losing their […]

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