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Impartial reviews on the latest products and how they can impact consumers.

Holloway My Sick Pay (Protection Review: Gold, Adviser score: 9.3)

March 2022 Holloway Friendly: IP

Gold

Holloway Friendly has launched My Sick Pay to replace its existing Purely, Short Term Income Protection and one2protect income protection plans. The mutual says it developed My Sick Pay to simplify its proposition from multiple products into one, making it easier for advisers to understand and advise on. It added that advisers wanted consistent options across all job types to help them set up the right cover at the right price. That meant closing some significant gaps in the plans. My Sick Pay offers a choice of level or age-based prices, short or long term pay-outs, and guaranteed or reviewable…
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LV= Life and CI (Protection Review: Gold, Adviser score: 7.5)

March 2022 LV=: CI

Gold

LV= has launched a new version of its Life and Critical Illness cover plan, offering greater affordability and simplification compared to its existing coverage. Simply called Life and Critical Illness Cover, the plan sits alongside its existing life and CI product, and has been designed to offer a more affordable option. The new product covers a total of 41 conditions, with full payouts offered for 39 of those plus two further payment conditions for early-stage breast cancer and prostate cancer. These offer cover up to £30,000 or 25% of the amount of cover if lower. The plan also includes ‘Enhanced…
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LV= Mortgage and Rent Cover (Protection Review: Silver, Adviser score: 6.3)

March 2022 LV=: IP

Silver

LV’s Mortgage and Rent Cover plan is designed to protect customers’ monthly mortgage or rental payments should they be unable to work due to illness or injury. Cover is based on the customer’s monthly mortgage or rental payment and up to 100% of that can be insured. The minimum amount of cover available is £100 and the maximum is £2,000 a month. Premiums are level and guaranteed throughout the policy’s term and an own occupation definition applies. There is also a waiver of premium option. Waiting periods of 1, 2, 3 and 6 months are available. Maximum benefit period is…
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Zurich standalone Critical Illness (Protection Review: Silver, Adviser Score: 6.0)

March 2022 Zurich: CI

Silver

Zurich has launched a standalone critical illness (CI) cover option for customers who do not want a CI product combined with life insurance. The insurer has also widened its Total Permanent Disability (TPD) definition, now offers standard rates for customers with some mental health conditions and has improved the wording around mental health conditions on its applications. On the new plan, both core and select levels of critical illness cover are available, providing different breadths of cover, with Select having more specified conditions. In effect, the new option allows customers to choose whether to have life cover or not, with…
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British Friendly Protect and Breathing Space (Protection Review: Gold, Adviser score 6.5)

January 2022 British Friendly Society: IP

Gold

British Friendly has announced a series of changes to its Protect and Breathing Space income protection products. All IP occupations are now underwritten upfront, so customers who change occupation during the term of the policy no longer have to be underwritten again. Customers can now opt for claim benefits to be paid directly to their mortgage provider, so avoiding any impact on Universal Credit means-tested benefits. GP and UK residency criteria has been reduced from three to two years too. Two new Guaranteed Insurability Options have been introduced, and cover rental and salary increases. In fact, the Guaranteed Insurability Options…
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