Exeter Family Friendly launches level premiums option

clock • 1 min read

Exeter Family Friendly has launched a level premium option on its Income One income protection (IP) plan.

The Exeter based provider said it had made this move as a direct result of feedback from advisers, who wanted the level premiums option to compete with the mainstream insurers for low risk clients.

Previously Exeter priced their plans based on age, where premiums begin cheaper but rise as clients get older.

Mike O'Brien, head of sales and marketing (pictured) said: "As consumers, we're all different; some people like budgetary certainty, whilst some like to pay as they go. That's what this development is about, giving advisers and importantly their clients a choice."

Income One is a targeted plan for low risk and clerical occupations and offers applicants the chance to fix their benefits, reducing the risk of over-insurance. It has an "own occupation" definition for the life of the plan.

O'Brien continued: "Advisers have told us that they like our simple approach to IP but for some, age-costed premiums are simply not the right option for their clients. So this change opens us up to a new and different market; we're sure that some advisers will be dealing with us for the first time as a result."

"Over the next few weeks advisers will see our name appearing more often and competitively in their comparison quotes. We're sure that we can add a real and true alternative in what is the most competitive sector of the IP market."

More on Income Protection

Why we still need to talk IP

Why we still need to talk IP

"Increasing sales starts with education"

Matthew Chapman
clock 14 March 2024 • 3 min read
Cirencester Friendly pays out £9.3 million in 2023

Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock 14 March 2024 • 2 min read
British Friendly pays out £5m in IP claims

British Friendly pays out £5m in IP claims

Provider pays out 89% of new IP claims in 2023

Cameron Roberts
clock 11 March 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read