Unum unveils budget group IP product

clock

Unum has launched a new group income protection (GIP) product targeted at a wider range of employees than most schemes.

The foundation level plan offers cover for up to 60% income replacement until retirement and with support from the provider's rehabilitation programme, but with no offset for State benefits. Unum said the product provides protection for essential financial outgoings such as mortgage payments, bills and transport costs and also increased affordability for employers. "This foundation cover will continue to pay until retirement for those who need it the most - the 30%-35% of our claimants that cannot perform any suited activity and will never return to work," it said. The plan starts ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Income Protection

Advisers promoting IP but conversion rates remain low - IPTF

IPTF adviser survey

John Brazier
clock 04 May 2021 • 3 min read

Steven Dean: How GIP can aid diversity and productivity

Group income protection

Steven Dean
clock 28 November 2018 • 4 min read

Steven Dean: How GIP can help business clients meet legal requirements

Group income protection

Steven Dean
clock 19 September 2018 • 3 min read