Group risk provider Unum has made a number of enhancements to its group income protection (GIP) products which will see the maximum levels for basic benefits and employer funded contributions increase.
The maximum basic benefit per member is increasing to £350,000 from £300,000 per annum and for employer’s pension fund contributions to £75,000 benefit from £50,000 per annum.
A limited term benefit payment period of four years, which was previously only available with Unum’s Dual Benefit GIP, will now be available for all Standard GIP, Capital Option and Pay Direct policies.
Wojciech Dochan, head of commercial marketing at Unum, says: “This is part of our ongoing product management to make sure we are responding to market need and that our products are up-to-date and are the best available in the market. Together with the changes that we have introduced across our Group Life products, this also supports our goal of being the market leader in all aspects of Group Risk.”
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