New Shepherd income protection insurance

Wed, 27 Jun 2007

Shepherds Friendly has relaunched their Income Protection Insurance policy in order to increase benefits. The cost of the policies, a form of insurance that protects the policyholder’s income, will remain the same.

In year one, policyholders who make a successful claim will receive 100 per cent, the same as year two (previously 50 per cent) and year three will see 80 per cent of salary paid (formerly 25 per cent.)

The Chief Executive of Shepherds Friendly, Geoff Spencer, reportedly commented: "Our upgraded Income Protection Plan provides more than competitive pricing and flexibility to the market place and will be medically underwritten by a dedicated tele-underwriting organisation, making it massively attractive. It is designed to provide benefit to the self-employed or anyone who does not receive an income, or limited income, from their employer in the event that they are unable to work due to accident or sickness. There is also the option to add children to the policy to cover for more than four weeks absence from work to nurse them back to health in the event they are unable to attend school. Cover will continue until the age of 16 and any number of children can be included and added or removed throughout the life of the plan."

The society has 25,000 members.
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