Article date: 15 April 2002
A new package of enhancements to Norwich Union’s GroupIncome Protection policy is launched today.
The improvements are the latest stage of development for theproduct, which was relaunched last year with a package of betterbenefits and improved pricing.
The enhancements announced today are:
- Maximum non-selection limit increased from £75,000 to £90,000(ie no underwriting required for individuals insured for benefitsbelow this level)
- Increased non-selection limits, allowing smaller companies tobenefit
- Improved no-worse terms for previously insured schemes
- Improved “actively at work” requirement for newjoiners to schemes and for benefit increases
- Unit rate now available for 25 lives or more (compared with 30previously)
- Benefit term no longer restricted for members residing inCanada, USA, Australia and EC countries (claims were previouslyrestricted to six months)
Nick Homer of Norwich Union Healthcare, said: "Havingsuccessfully relaunched our Group Income Protection product during2001, these enhancements reflect our on-going commitment toensuring that our proposition remains highly competitive, andcontinues to support intermediaries in the development of theirhealth and risk strategies".
In addition to the latest improvements, clients can takeadvantage of benefits including:
- A discount of up to 15% for completing the Employers’Questionnaire*
- A further discount of up to 5% if the client has PMIcover*
- 12 months linked claims provision which continues to apply ifthe scheme lapses or switches insurer Full details of standardcover and exclusions are in the policy wording, a specimen copy ofwhich is available on request. Applications are required.
Existing policies will not be affected by these changes.
*any discounts allowed will apply to our prevailing net ratesafter deduction of any other applicable discounts and charges andfor at least two years.
- Intermediaries wanting more information should call 0845 3000649
Press contact: Louise Zucchi at Norwich Union on 08703666860 or 07860 203466
Notes to editors
- Norwich Union Healthcare is the healthcare arm of NorwichUnion and provides a range of private medical insurance and incomeprotection products to around 750,000 customers. It is one of thelargest providers of income protection and private medicalinsurance in the UK.
- Norwich Union is the UK's largest insurer offering acomprehensive range of long-term savings and general insuranceproducts.
- Member of the General Insurance Standards Council
- Norwich Union’s news releases are available on thisinternet site
- A selection of images is available from the CGNU Newscast siteat www.newscast.co.uk
- An ISDN facility is available for studio quality broadcast.Call the press office on 08703 66 68 68
For all life and pension media enquiries 08703 66 68 73
For all other media enquiries 08703 66 68 68