As part of changes to its income protection, Friends Life has announced a family carer benefit.
Family carer benefit pays up to £1,500 each month for 12 months if the policyholder's spouse, civil partner or child needs 24 hour care, the policyholder would be able to continue in full time work and they don't have to be receiving state benefits to claim.
Other enhancements offered by Friends Life to their income protection includes an increase in the number of own occupations and a recurrent two-year limited benefit policy option.
Policyholders will also be able to have longer career breaks with adjustments now possible for up to 24 months, and customers will be able to choose any retirement age between 50 and 70.
Research by Friends Life has shown that the two most common financial priorities for people were paying their mortgages and paying their household bills.
Colin Williams, managing director of work place and intermediated at Friends Life, said: "I am delighted that Friends Life has been able to bring Family Carer Benefit to the market. It's a truly innovative development which gives the families of our customers' important financial cover. It also means that our customers won't have to make big decisions about work or their finances when their focus needs to be on their loved ones."
Williams added: "We are one of the companies supporting the Seven Families initiative which is doing great work in raising the awareness of income protection. The Family Carer Benefit we've introduced is another reason more people should be considering this really important form of insurance."
