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Wesleyan launches 'plan for life' Personal Income Protection

Wesleyan has launched a new Personal Income Protection Plan specifically tailored to the needs of its medical, dental and legal customers. It offers a range of flexible options so it can be adapted to cover changes in career and lifestyle.

The specialist financial services mutual is already a leading provider of income protection having paid out 95 per cent of claims in 2013 compared with an industry average of 84 per cent in 2013*. Income protection provides a replacement income if a policyholder is unable to work because of illness or an accident.

Wesleyan's new income protection product is designed to support professional policyholders throughout their career. It includes guaranteed options to increase cover without providing further medical evidence if, for example, a policyholder receives a large pay increase or has a child. There is also the option to suspend, reduce or continue cover on an own occupation basis during career breaks such as maternity or paternity leave.

John Nickson, Wesleyan's Managing Director of Life and Pensions, said: "Wesleyan's Personal Income Protection Plan is designed to be a plan for life. We have created it with the specific needs of our professional customers in mind and it is offered on an own occupation basis. Our customers often train for many years to achieve their job role and it's important therefore that they are protected for that specific role even if they can work elsewhere outside of their profession."

Wesleyan has also enhanced its Professional Expenses Plan for doctors, dentists and lawyers, which helps safeguard individuals and their practice against unexpected costs incurred as a result of sickness or accident. This includes the cost of hiring replacement staff and covering the fixed costs of a practice.

The Personal Income Protection Plan and Professional Expenses Plan provide access to the Wesleyan Health & Wellbeing Scheme, including access to a confidential telephone support service and regular health checks at a network of clinics across the UK.

Wesleyan is a mutual financial services provider working with doctors, dentists, lawyers and teachers.

* ABI figures. 2013 is the last year where comparable figures between Wesleyan and the rest of the industry are available.

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

Click for more information about the Wesleyan group of companies.

© 2018 Wesleyan Assurance Society