A new package of enhancements to Norwich Union’s Group Income Protection policy is launched today.
A new package of enhancements to Norwich Union’s Group Income Protection policy is launched today.
The improvements are the latest stage of development for the product, which was relaunched last year with a package of better benefits and improved pricing.
The enhancements announced today are:
- Maximum non-selection limit increased from Ł75,000 to Ł90,000 (ie no underwriting required for individuals insured for benefits below this level)
- Increased non-selection limits, allowing smaller companies to benefit
- Improved no-worse terms for previously insured schemes
- Improved “actively at work” requirement for new joiners to schemes and for benefit increases
- Unit rate now available for 25 lives or more (compared with 30 previously)
- Benefit term no longer restricted for members residing in Canada, USA, Australia and EC countries (claims were previously restricted to six months)
Nick Homer of Norwich Union Healthcare, said: "Having successfully relaunched our Group Income Protection product during 2001, these enhancements reflect our on-going commitment to ensuring that our proposition remains highly competitive, and continues to support intermediaries in the development of their health and risk strategies".
In addition to the latest improvements, clients can take advantage of benefits including:
- A discount of up to 15% for completing the Employers’ Questionnaire*
- A further discount of up to 5% if the client has PMI cover*
- 12 months linked claims provision which continues to apply if the scheme lapses or switches insurer Full details of standard cover and exclusions are in the policy wording, a specimen copy of which is available on request. Applications are required.
Existing policies will not be affected by these changes.
*any discounts allowed will apply to our prevailing net rates after deduction of any other applicable discounts and charges and for at least two years.
- Intermediaries wanting more information should call 0845 300 0649
Press contact: Louise Zucchi at Norwich Union on 08703 666860 or 07860 203466
Notes to editors
- Norwich Union Healthcare is the healthcare arm of Norwich Union and provides a range of private medical insurance and income protection products to around 750,000 customers. It is one of the largest providers of income protection and private medical insurance in the UK.
- Norwich Union is the UK's largest insurer offering a comprehensive range of long-term savings and general insurance products.
- Member of the General Insurance Standards Council
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