UnumProvident is offering individual income protection policies which will cover people until they are 70 years old to reflect the new age discrimination legislation.
The new legislation is likely to result in more people over the age of 60 employed in the workplace and wishing to cover their income until they retire.
Cover is offered up to age 70 to people in most occupations, subject to underwriting, through the following products:
- Personal income replacement plan, which allows employees and the self-employed to protect their earnings;
- Primary income replacement plan, which can be used to cover the cost of fixed term commitments such as a mortgage or education and training costs; and
- Executive income replacement plan, which can be used by employers to offer selected employees enhanced sick pay arrangements.
Advisers can request age 70 quotes via Assureweb and Webline, and they will soon be able to obtain quotes through the Exchange.
UnumProvident’s announcement follows its decision to extend cover to age 70 on its group IP products.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7968 4554 or email [email protected].IFAonline
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