Cirencester Friendly has added a package of extra benefits for customers buying Income Assured Plus and My Earnings Insurance income protection contracts.
The two benefits packages include fracture and hospitalisation benefit, and a working life death benefit.
The fracture benefit includes a lump sum of £1,000 in the event a policyholder suffers a fracture, and hospitalisation benefit means a sum of up to £50 a night might be paid following three nights in hospital for a maximum of 21 days stay.
The working life death benefit could see a lump sum of £5,000 paid out to those who die during their working life.
Raj Shah, director of Blue Wealth Capital said the benefits set Cirencester’s products apart.
“You normally get very few fringe benefits when it comes to income protection. The hospitalisation benefit is especially good, although it looks like quite a small amount of money to pay out.
“For income protection, the working life death benefit is very unusual, and goes above and beyond what you might normally get, for example serious illness cover. It’s not a huge amount, but to have any sort of sum, perhaps to help with the funeral cost, is very good.”
The benefits have been developed following feedback from advisers and policyholders.
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.”
They products are available together or individually, and can be added onto existing contracts.
