Changes to Unum’s income protection offer


Income protection specialist, Unum, has signalled its commitment to focusing on the employer-paid benefits market with the removal from sale of its Individual income protection products.  It is retaining its market-leading Executive income protection offering, which is an employer paid product that will be offered alongside its award-winning Group products.

“We believe the workplace is the best place for workers to get income protection,” comments Marco Forato, Chief Marketing Officer (pictured above).  “It makes cover more affordable and also enables individuals with pre-existing conditions or high risk people to get cover they may not be approved for with an individual policy.”

“While some advisers do specialise in the SME segment, there are over a 150,000 companies in the UK with less than 50 employees and more often than not they don’t get the expert support they need.  Through their existing relationships with small business owners and directors, who already understand the value of workplace IP through their own Executive policy, IFAs could easily step in and fill this gap.”

Forato continues: “In the world of RDR and auto-enrolment, the employer-paid market is a real growth opportunity for Advisers.  We will partner with Advisers who have relationships with small business decision makers through our Executive product, helping them bring Group income protection into their discussions.”

Unum’s existing Personal, Primary and Essential Ability Cover product policyholders will continue to be supported by Unum’s market-leading claims management and LifeWorks support services.  The products will be closed to future sales from 2nd March, although Unum will honour all valid quotations previously issued, provided the completed application  is received by 30 March 2012.

As published on