Royal London has made changes to its income protection product designed to offer greater flexibility in supporting changing consumer circumstances, such as a change in employment.
Policyholders who may be looking to shorten their deferred period or are moving to less risk-inducing roles will be able to do so without going through the full alterations process. Online declaration of health forms can be used instead, and if matching original underwriting decisions, existing policies can be updated In addition, the insurer has updated the age bracket for increasing income protection cover using the guaranteed insurability options, from age 55 to 60. Meanwhile, customers can increase their cover to £12,000 per annum when using the guaranteed insurability options,...
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