Friends Provident raises ceasing ages on income protection products
Mon, 03 Aug 2009
Friends Provident has made changes to its individual income protection products, to take account of forthcoming changes to retirement legislation in the UK.

The insurer has raised the age individuals can receive payouts on its income protection plans, from 65 to 70 for both men and women. Further, Friends has increased the age NHS doctors can apply for income protection to 65 from 60.

Mark Jones, head of protection at the company, said: "Many providers' products fail to reflect that for the first five years of a doctor's career the NHS provision is greatly restricted, it may not cover even basic living expenses.

Mr Jones added that the Friends Provident's product has been designed to work alongside the NHS sick pay initiative and will provide adequate benefit to newly qualified doctors. It will also offer cover during any sabbatical leave that a doctor wishes to take. Both products are available on eSelect, the firm's online underwriting system.
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