Bupa relaxes approach to "own occupation" IP

Bupa Individual Protection has expanded the number of professions which can take out income protection (IP) on an own occupation basis.

The provider has added more than 130 own occupation definitions to its individual IP proposition to include dentists, surgeons and college lecturers, professions which are sometimes difficult to source cover for. These professionals will now be able to protect their income based upon their specific occupation, as opposed to an occupation to which they might be "suited".

Medical professionals are particularly limited in the range of insurance options they can consider. Some providers, including Friends Provident and Wesleyan Assurance Society, offer specific IP product options for doctors, however many other providers are reluctant to do so.

Bupa's decision to relax its approach to own occupation IP also extends to college lecturers, although not to primary and secondary school teachers. 

Steve Casey, head of product development for Bupa Individual Protection, said that the provider was able to broaden its coverage due to its relationship with its new reinsurer, Hannover Life Re.

He told Health Insurance that further developments are planned for 2010, including a product launch by the end of the first quarter.

"These changes are part of our commitment to enable intermediaries to offer the income protection coverage their clients expect," Casey added.

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