The Society manufactures one product, income protection. It distributes that to the intermediary market and sells it directly to the public. Whilst it might only be one product, there are many different potential customers for that product.
In the insurance world in general, income protection terms and pricing are established based on the risk of the occupation of the insured - the more risky the occupation the less likely you are to find someone to insure you.
The Society has built up a wealth of experience over the years, on the risks of income protection insurance for different occupations, as that’s the only product we know. We use that experience to be able to design products and plan terms for different markets and occupations. For example:
- We are able to consider insuring Individuals with more unusual occupations, including Sports occupations, from Amateur to Professional.
- We offer group insurance to Employers and Sports & Leisure Clubs, so they can make income protection available to their employees and club members accordingly.
- We can consider existing medical conditions that other insurers may not want to insure.
In all of the above examples, if we can understand and qualify the risk to our satisfaction, then we can propose terms and pricing that the customer can consider before agreeing to take out a plan.
So why do we consider ourselves a specialist? We only do one thing, income protection, making that available to as many different customers and markets as we can.