Directly authorised protection proposition Paradigm Protect has added mutual protection provider, British Friendly, to its panel.
From today, all Paradigm Protect member firms will have access to British Friendly’s short and long-term income protection products.
The Short Term Protect is an option for clients who need cover for shorter claim periods, or are on a limited budget, while the Long Term Protect provides a regular replacement option for clients if they are unable to work because of illness, injury or accident for any claim period until they return to work or reach their chosen retirement age.
British Friendly says it welcomes higher-risk occupations and self-employed clients, and offers a range of other criteria including:
- Cover for up to 70% of clients’ annual taxable income.
- A maximum retirement age of 70, applicants must be at least five years from retirement.
- One, two, five-year – or until retirement – payment periods across different products.
- No limit on the number of claims that can be made on a policy.
- Guarantee age-costed premiums.
British Friendly has paid 96% of all claims over the last 14 years and adds value to member’s policies at no extra cost via its discretionary Mutual Benefits and BF Care programmes.
Mike Allison (pictured), head of protection at Paradigm, said: “We are very pleased to be able to provide our member firms with access to British Friendly and its products, which deliver a variety of well thought-out income protection options at a highly-competitive premium level.
“British Friendly is however a provider that understand it’s not just about the pricing but also the additional benefits that can be provided to members. We talk a lot in the protection space about not just focusing on what policies can protect against but what other advantages they can provide during the lifetime of a policy, and British Friendly deliver in this area via its two main programmes of benefits.
“We believe this is a comprehensive offering for Paradigm firms and their clients and look forward to working closely with the British Friendly team going forward.”
Julie Greenwood, distribution director at British Friendly, added: “Paradigm is an award-winning distributor, and at British Friendly we are delighted to be added to their protection panel, allowing their members to access our income protection products. We are looking forward to working closely with Paradigm Protect and their members to highlight the importance of protection.
“We believe that our income protection plans will add real value to their members and will help to ensure more of their clients sleep well at night, knowing their income is protected if they are too ill or injured to work.”