Drewberry Insurance Rolls Out New Tool to Compare Income Protection Insurance [Professional Services Close – Up]

Drewberry Insurance launches a new income protection comparison tool to help consumers make a more informed decision when taking out this type of insurance.

According to a release, within the protection insurance market, income protection is about as complicated as it gets, with considerable differences between the products offered by insurers operating in this market.

Tom Conner, head of protection at Drewberry Income Protection, says, "Unfortunately, many people are taking out policies with weaker occupation definitions without actually knowing what they are covered for until they speak to an adviser, or go to make a claim.

"It is also the case that some insurers have decided to offer certain workers own occupation cover for the first year or two of a claim and then switch the incapacity definition to working tasks, which is extremely confusing for anyone who isn't very familiar with this cover.

"In this price sensitive world we are also coming across large numbers of people who have been quoted premiums that rise with age because they are lower now, without anyone even explaining that they rise over time, which is very misleading and just not right."

Drewberry has developed the income protection comparison tool to enable consumers to locate all the information about a policy they would need in order to decide whether that particular plan is right for them.

Some consumers may have been quoted various different policies from different places and want to know how one plan differs from another. For these consumers the tool allows the details of two plans to be compared side-by-side, even bringing up 'key considerations' comparing both policies directly.

The tool has not been created to replace an adviser but rather it has been designed to set out the facts about each policy clearly so consumers know exactly what they are being quoted which even includes each insurers claims payout rate.

Drewberry Insurance is a trading name of Drewberry Ltd, which operates as a whole of market insurance intermediary in the health and protection insurance markets.

More information:

http://www.drewberrygroupinsurance.co.uk

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