MetLife UK has launched individual protection policy EverydayProtect which covers a range of life and income-related events.
Its core cover pays out for broken bones, hospitalisation in the UK (per 24 hr period) as a result of accident or sickness, accidental permanent injury, total permanent disablement (bodily injury only), accidental death and non-accidental death.
With people living and working longer MetLife has increased the entry age up to a client’s 65th birthday and the policy can continue until their 75th birthday.
To cater for the self-employed, who the insurer said can find themselves excluded from other protection policies, it does not require any proof of income and claims payments are made quickly in order to account for any impact on household finances, as a result of an accident or hospitalisation.
No health questions are asked during application with policies starting at £9 per unit per month, and cover can be increased or reduced as required.
Policyholders can extend cover to other people from £1 a month, with children able to be included until they reach 18.
Rich Horner, head of individual protection at MetLife, (pictured) said the product had been developed to meet changing needs and lifestyle stages.
“While we can’t predict the future, having the right protection in place can empower individuals to live their life should life take an unexpected turn,” he said.
“Advisers have a pivotal role to play in helping to show their clients the benefits of having even greater protection in place alongside more traditional protection, so that their cover can grow with them.
“Protection shouldn’t be a once and done exercise, it should be reviewed regularly to ensure it continues to meet changing needs – all the while providing peace of mind for the everyday.”