Travel insurance provider, Columbus Direct, has launched a new direct to consumer income protection product.
Columbus Direct developed the new product with the aim of making income protection more affordable.
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The product provides different levels of cover including accident and sickness, unemployment and protection in the event of redundancy.
Customers are able to create a bespoke package of insurance by choosing which level of cover best suits their needs.
Greg Lawson, managing director at Columbus Direct, said whilst travel insurance will continue to be Columbus Direct’s specialism, the provider is looking to further serve its customers with a greater range of products to complement its current offering.
Lawson said: "Whilst we understand that protecting your income following an accident or illness is important, we have included the option of unemployment cover.
"Our research has shown that, despite the recent fall in unemployment, redundancy is still an area of real concern to many people who have financial commitments that they would not be able to fulfil if they were to lose their job.
He added: "We are also encouraging people to shop around when it comes to income protection insurance as many people accept the product that is offered to them by their bank or building society, but significant savings can be made for the same cover, or they may even find an improved product."
Among the features of Columbus Direct’s income protection product:
- Accident, sickness and unemployment cover
People can choose to cover all 3 of the above, or just unemployment only, or accident & sickness only
- Maximum amount of cover
Customers can choose exact amount of cover they require up to £2,500 per month
- No exclusion for dismissal, misconduct or missed sales targets
Many providers do not cover for this, so our unemployment cover is more comprehensive than most in the market (generally only covering redundancy)
- Cover for stress
