Unum to diversify its income protection product
Wed, 11 Aug 2010
Financial protection provider Unum is making changes to its individual income protection and aims to give customers greater accessibility to more comprehensive cover .

Unum will now provide access to its full range of deferred periods, including four, eight and 13 weeks, for all occupations that it covers. Also it has extended access to cover to any age up to 70.

Linton Penman, head of retail marketing and sales for Unum, said, "We are responding to feedback from financial advisers, who want income protection to be more accessible for all their clients. State support is coming under increasing pressure and people simply cannot expect the government to take care of them in the same manner as they have in the past."

Mr Penman added that with state pension ages increasing and age discrimination legislation supporting longer working lives, potential periods of incapacity later in working life mean people's incomes need protecting for longer. He also indicated the availability of shorter deferred periods will appeal especially to the self-employed and those whose employer provides little or no extended sick pay arrangements.
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