MEI has been developed to provide advisers with the opportunity to create bespoke income protection cover to suit the differing needs of their individual clients.
John Bridge, director of sales and marketing for Cirencester Friendly, said: “I am delighted to announce the launch of “My Earnings Insurance”.
“The contract has been developed after extensive research and feedback from our Members and the advisers in the community.
“Following this feedback, we have delivered an income protection contract that provides flexibility, affordability and peace of mind through a continuing income for members, should the worst happen.
“My Earnings Insurance” is the Society’s first non-Holloway contract and is available to mortgage advisers and insurance brokers as well as CF30 financial advisers.
“This means the award winning service on which the Society has built its reputation will now be available to many more advisers and prospective Members.
“Although it signals a new era for the Society as our first ‘Non-Holloway Contract’ the mission of “Protecting our Members Financially” remains at the very core of My Earnings Insurance.”
Features include annual escalating or level premiums both guaranteed; own occupation definition with level benefit throughout the period of claim; day one cover or a choice of 4, 8, 12, 26 or 52 week deferred periods; ‘Severe Injury Cover’ combining day one cover for a series of injuries with a longer deferred period for illness; terminal illness benefit that pays a lump sum following diagnosis death of within the following 12 months as well as regular benefits continuing until death; 65% earnings cover and the ability to have split deferred periods.
MEI is available to insurance brokers and mortgage brokers as well as financial advisers and available on the Assureweb comparison portal, other portals to follow.