Allianz UK launches accident, sickness, and unemployment insurance
Allianz UK has launched a new short-term income protection policy designed to provide financial security for people facing unexpected life events.
Allianz UK’s Short-term Income Protection requires no medical underwriting and provides immediate cover. Available only through financial advisers and mortgage brokers, benefits are paid for a maximum of 12 months, and customers can choose:
- accident, sickness, and unemployment
- accident and sickness only
- unemployment only
Developed with AmTrust Specialty Limited and Wessex Group, it includes accidental death cover when accident and sickness is selected providing 12 times the monthly benefit automatically. With the accident and sickness options there is no premium weighting for existing conditions. It is available to customers aged 18 – 64 who have been in full-time employment for at least six months, with cover ending at age 67. Additionally, it covers up to 65% of their gross monthly income, with a maximum of £3,000 for new mortgages and £2,000 for existing mortgages or customers with a mortgage offer.
“We are delighted to launch a new Short-term Income Protection product in partnership with AmTrust and Wessex. At Allianz we understand that people worry about how they’ll be able to pay their bills if accident, sickness or unemployment prevents them from working. This policy will appeal to financial advisers as it’s a complementary product to their mortgage and protection sales. It offers a vital financial safety net and peace of mind ensuring people and homeowners can maintain their standard of living when the unexpected happens.” – Henry Topham, managing director of retail insurance at Allianz UK.
