Health and protection insurer The Exeter has launched Income First combining its Income One and Pure Protection products.
The insurer said the new product is designed to simplify the income protection journey, offering cover across a range of occupations from office-based professionals through to manual workers and skilled trades.
It is also introducing level guaranteed premiums across all occupation classes, along with continuing to offer age-costed options.
The need for medical evidence at the underwriting stage has been reduced with improved non-medical limits.
The Exeter said it does not request medical evidence as standard for applicants under 42 years old, while the threshold for financial evidence has been increased.
NHS medical professionals or teachers can benefit from flexible waiting periods, while more options for members to increase cover in specific circumstances have been introduced, such as for those in rental accommodation.
Income First also features The Exeter’s employer change promise, designed for members who may change employment during the term of their policy and find their sick pay is restricted, which is often the case during probation periods.
With the employer change promise, eligible policyholders who need to make a claim may be able to receive their benefit before their waiting period finishes.
Steve Bryan, director of distribution and marketing at The Exeter (pictured), said: “We’ve seen substantial growth in our income protection business in the last five years by developing strong products and backing that up with consistent service.
“Income protection should be the number one priority when it comes to protecting financial futures, and so we’re building on our expertise, as well as feedback from advisers, to evolve our product further.
“By doing so, we hope to be able to provide greater flexibility and meet the needs of an even wider group of customers.”