To account for changing retirement legislation Friends Provident will be increasing the ceasing ages for its IP product to age 70 for individual IP and age 65 for its doctors' IP product.
Friends Provident is one of only two providers in the market to tailor a product for NHS doctors. Many providers' products fail to reflect that for the first five years of a doctor's career the NHS provision is greatly restricted, it may not cover even basic living expenses. Friends Provident's product, however, has been designed to work alongside the NHS sick pay initiative and provide adequate benefit to newly qualified doctors. It also offers cover during any sabbatical leave that a doctor wishes to take.
These IP enhancements are available through eSelect, Friends Provident's award winning interactive online underwriting system. The addition of IP saves advisers time as eSelect can automatically apply ratings and exclusions, and makes the application process even quicker.
