Cirencester Friendly has unveiled ‘My Extra Benefits’ – a package of additional benefits for customers buying and holding Income Assured Plus and My Earnings Insurance income protection contracts.
The two benefits packages, Fracture & Hospitalisation Benefit and Working Life Death Benefit, are available together as a package or individually offering a fixed level of benefit for each option and can be added as a cost optional extra to existing and new contracts.
Paul Hudson, chief executive of Cirencester Friendly, said: “As a mutual, we are always seeking ways to provide even better care for our Members, in addition to providing advisers with innovative and appealing products that allow them to best serve their clients.
“After speaking to the adviser community, it is clear that there is a demand for these benefits which will add further value to our two established income protection contracts.”
The additional protection benefits have been developed following feedback from both advisers and members and have the added advantage that advisers will receive commission on these products in addition to the standard income protection commission.
The combined Fracture & Hospitalisation Benefit includes: Fracture Benefit – a lump sum of £1,000 in the event a member suffers a fracture to one of named bones; Hospitalisation Benefit – a sum of up to £50 a night payable following three nights in hospital backdated to day one following an accident or illness for a maximum of 21 days per stay in any 12 month period. Members can claim for these concurrently and at the same time for as their income protection contract.
Working Life Death Benefit is a payment of £5,000 upon death of during the working life of a member.