Norwich Union launches new income protection product

Mon, 14 Jul 2008

Norwich Union is offering an income protection product in response to the potentially damaging financial effects of long-term incapacity .

Norwich Union claims that there is a great need for income protection products and says that it is planning to launch more products in the future. Nick Homer, marketing propositions manager at Norwich Union Healthcare said: "State incapacity benefit, currently £75.40 per week, is nowhere near enough. Consequently many people are currently vulnerable to the potentially devastating financial effects caused by long-term incapacity."

Mr Homer that with the welfare state set to be reformed further in October this year, there will be an even greater need for long-term income protection .

He added that the firm believed that intermediaries played a critical role in helping people to understand the need to protect their income. Norwich Union provides individual claims advisers who will complete forms for customers over the phone and they also have a rehabilitation service to help policyholders get back to work.
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