Standard Life to launch new range of IP products

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Standard Life is launching a new set of income protection products next week which it hopes will put it on a level playing field with the front-runners in the market.

It has set a target date of December 1st to launch a guaranteed rate IP product and improve the policy conditions of its current reviewable rate products. New features of the products include guaranteed rates, cover while not in paid occupation – which covers someone for five years if they go on maternity leave and become too ill to work or decide not to go back to work – and a guaranteed option to increase cover on events such as marriage, promotion or an increased mortgage. Standard Life will initially be targeting older clients with larger risks and quotes will be available on The ...

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