The income protection revolution

The income protection industry is already reeling from the revolutionary new product launched in August 2006, such is the huge impact it has made on the market.

Owned by BritishInsurance.com who are renowned for their ethically priced protection policies, their Safetyfirst product has shaken the industry to its rafters.

With standard income protection - which pays a regular income in the event of policyholders not being unable to work due to long-term sickness or disability - consumers can be charged wildly different premium rates. This is related to factors such as their age, smoking habits, occupation, and sex.

And once they have applied, acceptance can take several weeks as the underwriting process needs to be completed before their cover starts.

However, with Safetyfirst, the whole process and pricing has been simplified. Everyone is charged the same flat rate of £5 a month per £100 of monthly cover, regardless of the variable factors.

90% of the policies are arranged instantly. Just 10% of applicants are declined based on their answers to a very brief medical questionnaire.

Another plus point is that unlike standard payment protection insurance – which pays out typically for just on year – Safetyfirst pays out for up to 30 years.

The product is very attractive – it’s simple, it is inexpensive and it doesn’t discriminate against age, sex or occupation.