Pioneer Friendly Society has removed the final two exclusions, war and HIV, on its pure protection contract.
This move follows a range of policy changes introduced in January.
Pioneer chief executive Andy Chapman says the removal of war and HIV ensures the contract remains one of the few income protection policies to apply no standard exclusions.
“The 'one rate for all' structure offers intermediaries further simplification and an opportunity to sell a first rate income protection plan to all sectors of the market, regardless of occupation, gender or smoker status,” he says.
Paul Wood, Pioneer sales and marketing director, says consumers and intermediaries have lost faith in income protection market because of the few like for like comparisons.
“In recommending a policy the intermediary has to decide how much certain policy features are worth, a dangerous game when potentially securing long term financial security,” he says.
“This latest move heightens this focus, making the intermediary's task in recommending income protection easier.
“It’s now up to intermediaries to rise to the challenge and start writing income protection that is good for the consumer.”
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15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year
Focus on customer centricity
To repay £900,000 to customers