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The Life Insurance Market
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Bupa Individual Protection has added more than 130 Own Occupation definitions to its individual Income Protection policies including dentists, surgeons and college lecturers. These professionals will now be able to protect their income based upon their specific occupation.
LifeSearch warmly welcomes this positive move by the insurer. Own Occupation definitions - which means claims are triggered when the policyholder is no longer able to do their job due to illness or disability - are the gold standard in Income Protection policies so the more occupations that are offered at this level of cover, the better.
We believe this could be a big year for Income Protection as several providers look to improve their offering. We hope 2010 will prove to be the year when new initiatives drive IP from its current slumber into a more mainstream position. That won't happen by chance though, it needs the industry to grasp the nettle firmly.
Please let us know what you think by commenting below.
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