National Friendly has extended its hybrid reviewable premium income protection offering to include level premium reviewable. The level reviewable premium plan also has the options of 1,2- and 5-year benefit periods and will be available on both Iress and iPipeline.
The hybrid reviewable rates are fixed for five years, as opposed to the industry norm of just one year, offering short-term, affordable premium certainty at a more competitive rate than a guaranteed option. At each five-year review point, premiums can go up, down or remain the same based on the business’ overall income protection claims experience and will then be fixed for a further five years. This is part of the mutual provider’s strategy of being the go-to provider for reviewable rates.
Graham Singleton, National Friendly CEO, said: “We believe this makes us a market leader for reviewable premiums in protection. We want to offer more flexibility in pricing and give the adviser more choice to tailor plans to their clients’ needs. Effective budgeting is easier with reviewable policies, making them a cost-efficient solution for objections on price suiting clients’ current needs.”
Kevin Doherty, Head of Sales, Bon Accord, said: “This new 5-year Level Reviewable Premium option from National Friendly is exactly what the market needs. It bridges the gap between affordability and certainty, giving clients the confidence of fixed premiums for a meaningful period while keeping costs competitive. It’s a valuable tool to overcome price objections and create protection plans that match clients’ budgets and circumstances today, with the flexibility to adapt in the future.”
Friendly Dentist
National Friendly has also extended the availability of its Friendly Dentist benefit. Last month National Friendly enhanced its Friendly Shield protection product by including access to Friendly Dentist+, the UK’s first health-regulated smart dental app. Friendly Dentist, designed by dentists and operated in partnership with UK dental professionals, delivers instant remote advice, guidance, and prescriptions to support everyday dental needs. Friendly Dentist, the basic level service, is now available to all Accident Only Income Protection, Income Protection and Private Medical Insurance policyholders.
Graham Singleton continued: “By extending Friendly Dentist across our product range our members can secure high-quality dental advice and treatment without delay alongside the financial support they rely on when accidents or illness occur.”
