Burgesses unveils new ‘flexible’ disability plan
INSURANCE TIMES - 28TH MAY 2002
Specialist underwriting agency Burgesses is launching a flexible disability cover to protect individuals and key people within businesses.
Burgesses’ new Certaintyfirst offers up to £1m after a deferred period of two, four, 13 or 26 weeks for up to 52 or 104 weeks – either as income or as a lump-sum.
The policy – which is underwritten at Lloyd’s – is available to all occupations including the traditionally high risk categories such as professional sports people and without the need for medical underwriting.
In addition, 100 per cent of salary can be covered without deduction of State benefits – unlike permanent health insurance where the current maximum is 50 per cent.
Burgesses managing partner, Simon Burgess, considers price and flexibility are the major features of the scheme.
And he adds that these benefits were demonstrated recently when the proprietor of “one of our agent’s corporate clients was offered full death cover with a minimal loading – despite having liver cancer.”
Burgesses agent Geoff Arber, of Warrior Square, believes Certaintyfirst will be highly relevant to the self-employed, partners or proprietorial directors who currently get a ‘raw deal under the vast majority of disability insurances.’
He comments: “This is a massive market and we all know of businesses that have failed because of the loss of a key member of staff.
“Offering a policy such as Certaintyfirst will provide peace of mind at a realistic price. Furthermore, offering compensation on the basis of lost chargeable hours will be particularly relevant to professionals such as solicitors and accountants.”
