Friends Provident has added to the range of options available from its multi-benefits protection pla...
Friends Provident has added to the range of options available from its multi-benefits protection plan.
The Select Protection Plan is designed to allow customers to choose any single or combination of protection benefits.
Among the enhancements to the plan, unemployment cover has been added for the first time to protect mortgage payments against involuntary redundancy.
The group has also brought in pension contribution protection benefit. This provides waiver protection for individual personal and stakeholder pension contributions in the case of long-term disability. This benefit can also be used to protect a spouse's pension contributions.
The critical illness element of the plan has had three further illnesses added ' Creutzfeld-Jacob disease, HIV and AIDS by assault, as well as progressive supra-nuclear palsy.
In addition, the age restrictions on some illnesses have been removed and the Children's Critical Illness option now covers three children up to a maximum benefit of £20,000.
Waiver of premium benefits on the Select Protection Plan have also been altered. The 'own occupation' basis has increased from age 60 to 65, for example.
For more information intermediaries should contact their local IFA area office or ring 0845 757 3036.
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