The Exeter has announced a series of updates to its Income First product, strengthening the financial protection available to members during periods of illness or injury should they need to make a claim on their policy.
As part of the changes, the maximum benefit has increased to 65% of income, allowing members to protect a larger proportion of their earnings, improving financial stability during periods of illness or injury.
The enhancements also provide greater clarity for members who have been on parental leave for less than 12 months and need to make a claim by assessing their earnings prior to their leave.
Extended access to rehabilitation support is now available, with the previous 24-month limit being removed to allow members to receive assistance for as long as they need it.
In addition, The Exeter has reduced evidence requirements for the fixed benefit option.
Jack Southcott, head of protection proposition at The Exeter, commented: “These enhancements reflect our focus on continuously evolving our proposition to support our members when they need us most. Increasing the maximum benefit limit provides broader financial protection, while clearer guidance around parental leave removes uncertainty at important life moments.
“Extending access to rehabilitation ensures members can rely on support that’s shaped around their recovery, whilst our fixed benefit option meets a real customer need, especially for those with fluctuating incomes. Ultimately, these changes are about delivering long-term value and strengthening the confidence advisers and members place in our Income First product.”
