Since pioneering the multi-benefit protection concept, Scottish Provident has established a position...
Since pioneering the multi-benefit protection concept, Scottish Provident has established a position as one of the leading providers of innovative protection solutions in the UK.
Self Assurance is a comprehensive protection plan that provides flexibility of construction allowing life cover, life or earlier critical illness (CI) cover, CI cover, income protection, hospital cash, unemployment benefit and waiver of premium to be included.
At the heart of Self Assurance is CI cover. This provides cover for 31 conditions as either an acceleration of life cover or as a stand-alone benefit. Importantly, a number of the definitions exceed the Association of British Insurers' model wordings.
Cover is available on level, decreasing and increasing bases. Where increasing cover is selected, the benefit increases annually in line with the retail price index up to a maximum of 10% a year.
By using a menu platform to administer the plan, Scottish Provident is able to provide the flexibility that is essential for a long-term protection plan.
Levels of cover, term or lives assured can be varied at any time subject to underwriting. More importantly, cover can also be adapted through a comprehensive range of guaranteed insurability options. This flexibility enables the plan to cope with changing needs without the administrative nightmares of multiple proposals, underwriting delays and direct debit payments.
In a market where too many buying decisions are being driven by price alone, it is gratifying to see that Scottish Provident continues to base its proposition on quality of cover and flexibility.
Nick Telfer, principal consultant, protection, Defaqto
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