The new online-only plan includes life cover only and life with serious illness cover. It will be available to all UK intermediaries and includes the option to upgrade to the existing PruProtect Plan. Some features have been removed to make the premium more affordable including automatic children's cover, guaranteed insurability options and immediate cover.
The plan provides intermediaries with more choice for their clients while remaining true to the core PruProtect ethos by including both severity-based cover and the Vitality incentive programme.
Deepak Jobanputra, actuarial and product director for PruProtect, said: "We have launched this latest product to provide greater choice and flexibility. Our philosophy is based upon innovation, choice and comprehensiveness of cover and we have remained true to our core values. The market will see many more innovative changes and additions from us in the months and years ahead."
