View more on these topics

Income cover aims to fill deferred gap

British Insurance is offering a product which pays out a regular income on long-term illness or injury.

It has been launched through subsidiary firm Sickpayplus.co.uk and claims to pay monthly benefits backdated to day one if the policyholder is off sick for 30 days or more.

It costs 1.35 a month per 100 of monthly benefit for three months and 2.10 a month per 100 for six months.

The majority of income-protection policies do not pay out any benefits for the first three or six months of a claim due to the deferred period. The new cover can be taken out over nine or 12 months and there are no penalties on occupation, gender, age or smoking.

British Insurance managing director Simon Burgess says: “The product should prove popular with those who fail to qualify for standard income protection terms because having cover for only nine or 12 months is likely to be preferable than not being able to afford any at all.

“It can provide people with a valuable breathing space to reappraise their circumstances and plan their finances.”

Recommended

McKenzie in move to the DWP

Lord McKenzie of Luton has been appointed Parliamentary under-secretary for the Lords at the Department for Work and Pensions. He is currently a spokesman for the Treasury and Government Whip for the DTI.

New CEO for Home & Capital Trust

Home reversion provider and equity release manager Home & Capital Trust has appointed Graeme Marshall as the new chief executive.His role came into effect on January 1.Marshall has already been H&C’s managing director from 1998 to 2003 before resigning In October 2003 to develop Sovereign Reversions plc, the Aim-listed company which provides finance to elderly […]

GMAC claims 75% growth in lending

GMAC-RFC claims its 2006 lending was five times the market rate of growth and says it believes this to be the strongest growth of any major lender last year.It says its pre-audit lending for 2006 is £12.1bn which represents 75 per cent year-on-year growth.But John Charcol senior technical adviser Ray Boulger believes the lender has […]

Sense of release

Mortgage Trust got the year off to less than convincing start.Talking up the prospects for buy-to-let mortgages, it has sent out a press release saying that 70 per cent of brokers think business will exceed 2006 levels but the accompanying graph for some reason says that 56 per cent think business will increase.It also claims […]

Bonds in 2017: Stick or twist?

Royal London Asset Management Bond Fund Managers Paola Binns and Craig Inches look at why short duration could be a key tactic for fixed income investors during 2017. Read the full article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment