The product, which Money Marketing revealed the firm was developing last year, pays out until the policyholder goes back to work, the plan term ends or the policyholder dies.
It has guaranteed premiums and bases disability definitions on own occupation. It offers cover for accident, sickness and unemployment, with level mortgage payment protection and the choice of level or index-linked living expenses protection. The policyholder can claim as often as necessary.
Head of protection Chris McFarlane says: “Based on extensive research, we saw that the market needed a more flexible product that could be tailored to their client’s individual needs and that was easy to understand. We believe this will stimulate the market at a time when advisers really need quality protection products to satisfy their clients’ needs as well as supplement their income.”
He says policyholders can alter their cover when their life circumstances change, for example if they move house, have children or get married.