Pure Protection Plus and Income One Plus replace the insurer’s previous range, with premium savings of up to 50%.
Chief executive Andy Chapman said: “For too many insurers income protection is an afterthought product and the result is complex, inflexible and expensive cover.”
Chapman said the Exeter had always championed income protection and innovative product design. “This latest launch is the next important step in maintaining this reputation,” he added.
Pure Protection Plus covers nearly all occupations using a one-rate structure, whilst Income One Plus is targeted at low risk, office-based occupations. Highlights of the product enhancements include a wider range of claim periods, from two or five years to long-term cover. There are improved features included as standard, such as waiver of premium and guaranteed insurability options.
Advisers will have two options to simplify financial underwriting at claim through a minimum benefit guarantee of up to £1,000 or a benefit fix option.