News

2nd September 2024

Provider, National Friendly, has reported a rise in accident only income protection (AOIP), with sales in July 2024 23% higher than its previous record month, June 2024.
The provider also shared its claims data for January to June 2024, it showed that falls (13%), sports injuries (11%) and car accidents (8%) were the most common reasons for claims.

Hazardous pursuits made up 6% of claims, football (36%) and rugby (26%) being the main reasons. The average length of an AOIP claim was 4.2 months, according to the provider.

Friendly GP, National Friendly's virtual GP service, has been used for 577 appointments since January this year. The most common reasons for using the virtual GP were MSK/orthopaedic (58%), dermatology (9%) and cardiology (7%).

The data from the provider followed up the launch of its non-underwritten cover for unforeseen eventualities, Friendly Shield. The product is aimed at consumers who may not typically be able to afford traditional protection products, according to the mutual.

Graham Singleton, CEO, National Friendly, said: "Accident Only Income Protection offers a solution to a huge, underserved part of the population, who may have found Income Protection difficult to obtain due to health reasons or affordability.

"As there are no health questions or medical underwriting on the plan, it is an incredibly quick and simple application and offers cover without the need of any medical evidence."

 

This article was originally published on COVER.

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