Introducing our suite of income protection products

12 October 2020

On 28th September 2020, we introduced two new products: Low Start Income Protection and Executive Income Protection. This is part of an enhanced and expanded income protection (IP) proposition, meaning we now have a comprehensive range of products that could help you reach a wider variety of clients.

We understand that everyone is different, that’s why we’ve designed a suite of IP products. When it comes to protecting what’s important, you can tailor the right cover for your clients’ needs, now with more benefits and more choice.

Protection within everyone’s reach

With Low Start Income Protection, the premium starts lower than traditional IP, helping to address initial affordability. It shares many of the same features as our Income Protection Benefit product, and gives advisers and clients more choice as it’s designed for those who would be unable to immediately afford to take out the income protection they need.

Executive Income Protection is designed to help businesses alleviate the financial uncertainty that often comes when someone is unable to work due to illness or injury. It means businesses can provide even further support for their employees when they need it most – a valuable tool in the recruitment and retention of top talent. 

These two new products complement our existing offerings: Income Protection Benefit and Rental Income Protection Benefit, means we now have one of the most complete income protection proposition in the market, with options for renters, the budget conscious, and even businesses too.

Extra support that comes as standard

Knowing you’ve got an income coming in is reassuring when you’re ill and can’t work, but what about help getting back to work?

Our income protection products also provides a range of support services to help your clients get back on their feet – all at no extra cost. These include our experienced in-house Rehabilitation specialists, who offer early intervention treatments for physical or mental-health related issues. Plus access to Wellbeing Support, provided by Red Arc Assured Limited, their dedicated specialist nurses can help with mental health problems, and provide a second medical opinion for serious illnesses.

Why is income protection so important?

In today’s world, there’s a lot of uncertainty. And none of us know what’s around the next corner.

Having an income protection policy can provide income should your client suffer with an illness or injury that prevents them from working but recent research by Swiss Re Term and Health Watch 2021 reports that between 2019 and 2020, sales figures decreased by 9.5% from 179,605 to 162,515.1

In 2020, according to the FCA, 27-34% of UK adults (14-18 million people) had either no savings or less than £1,000 in savings. This was skewed toward younger age groups with at least 47% of 18-24 year-olds having less than £1,000 in savings.2

It means more than ever, people should consider income protection. So, having a product that can be tailored to their needs could allow you to reach more clients.

“The launch of Executive Income Protection and Low Start Income Protection enhances our IP offering and gives advisers an even better opportunity to help their clients understand the importance of financial resilience. Our new proposition makes IP more accessible and provides greater choice for people to get cover that meets their individual needs.”        

Craig Brown, Director, Intermediary Insurance at Legal & General


Find out more about our comprehensive range of income protection products, take a look at our new Sales Aid,

4 Ways To Protect Your Income



1Swiss Re Term & Health Watch 2021