Pioneer bridges market gap in payment protection insurance

Pioneer has launched a stripped-down income protection (IP) policy to try and fill the gap in the market caused by the collapse of the payment protection insurance (PPI) market. The new product, called 'Bills and Things', has consumers deciding which benefit they want between £500 and £1 000, and how long they wish to receive payments for. It will not implement financial underwriting at the application or claims stages. The product will have a four-week deferred period, own occupation definition and will utilise the same pricing structure as Pioneer's existing Pure Protection product. ...