Burgesses gets a hold on income protection sector
PROFESSIONAL BROKING - 1ST JUNE 2004
Burgesses has launched two new “non-discriminatory” income protection products, both underwritten at Lloyd’s.
Earningsafe is a package which protects against the risks of unemployment and provides a monthly benefit of up to £2,500 or 755 of gross income, after a waiting period of either 30, 60 or 90 days. Cover is available to all UK residents below retirement age, irrespective of occupation, gender or employment status.
Employed, self-employed, contract workers or even owner-directors of companies can be covered, provided they work for a minimum of 20 hours per week. Premiums start at £3.25 per £100 of monthly benefit which is payable for up to 12 months.
Burgesses has also created incomeSAFE, designed to provide up to 75% of earnings to persons unable to work due to accident or illness. There is a deferred period of 30 days before benefits become payable, for wither 12 or 24 months, subject to a monthly maximum of £2,500. Premiums start at £1.50 per £100 of monthly benefit, including tax.
