Fidelity Life Releases IP Product Enhancements


Fidelity Life has launched key enhancements to its income protection product range.

Positioned as the focus for Fidelity Life’s 3-2-1-Go! Campaign for advisers, the three enhancements are:

  • Improvements to waiting period conditions – the requirement that the customer must be totally disabled for the first two weeks of their waiting period has been removed, encouraging customers to continue working, if they can
  • Payment of the Total Disability Benefit fully in advance, instead of paying only 50 per cent in advance
  • Agreed Value replacement ratio has been updated, meaning customers will be insured for a higher benefit in line with their income
Adrian Riminton

In a release accompanying the announcement of this initiative, Fidelity Life Chief Distribution Officer, Adrian Riminton, said that following adviser feedback, the insurer had “…made some important improvements to our income protection products which aim to boost our competitiveness and provide even better outcomes for customers.”

Riminton also outlined three features he said were unique to Fidelity Life Income Protection:

  1. Fidelity Life Personal Income Protection (Agreed Value and Indemnity) is the only product in the market which allows customers to keep working up to 10 hours per week, if they need to, without affecting their monthly benefit payment
  2. Fidelity Life is the only provider to offer a Claims Escalation (extra cost) Option,  which increases claim payments on a quarterly, as opposed to annual, basis
  3. Fidelity Life is the only provider to offer an Extended Benefit (extra cost) Option, which continues to pay a claim beyond retirement if customers have a severe disability which lasts beyond retirement age

Advisers can take the following links to access more details about the three IP enhancements and updated Fidelity Life product and sales guides:

Fidelity Life March 2018 IP Enhancements

Fidelity Life Product Guide

Fidelity Life Income Protection Sales Guide