Friday, 19 April 2019
BREAKING NEWS

Exeter offers income protection cover to diabetics – FT Adviser

The Exeter has changed its underwriting approach to offer income protection cover to type two diabetics for the first time.

The Exeter has changed its underwriting approach to offer income protection cover to type two diabetics for the first time.

It is hoped this underwriting change will help to increase access to protection for those who require cover most.

The healthcare and protection insurance specialist made the move as latest statistics from Diabetes UK, found that almost 3.7 million people are living with a diagnosis of the condition in the UK, with 90 per cent of those having type 2.

In addition, more than 12 million people are at risk of developing type two diabetes in the UK.

Steve Bryan, director of distribution and marketing at The Exeter, said: “We pride ourselves on our inclusive approach to providing cover, and income protection is a vital part of that.

“This latest extension of cover for type two diabetics is part of our broader approach to increasing access to protection across the board. As attitudes and treatment develops for those with manageable long-term illnesses, it’s essential that providers themselves innovate and change to meet the growing needs of the public.”

The extension of income protection to cover type two diabetics compliments The Exeter’s Managed Life product, which already provides responsive life insurance for those living with type two diabetes.

The Exeter’s income protection proposition includes Income One Plus, which is a bespoke plan for low risk occupations, and Pure Protection Plus, which is for people working in more manual, physical occupations.

The change in underwriting approach to incorporate type two diabetics applies to both products.

AJ Somal, IFA at Birmingham- based Aurora Financial Planning, said: “This is welcome news from The Exeter. Type two diabetes has been a potential hindrance in the past with regards to underwriting, so hopefully other providers follow suit.”

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Source: https://www.ftadviser.com/protection/2018/05/16/exeter-offers-income-protection-cover-to-diabetics/

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