UK-based FinTech Stubben Edge Group and National Friendly (the trading name of Mutual, National Deposit Friendly Society Ltd) have announced the launch of a new product, the Accident Only Income Protection policy.Anchor

The first of its kind, this product is designed for the self-employed, employed individuals and company directors within the small business community who wouldn’t typically consider protecting themselves from a disabling injury or health issues that could prevent them from working, along with the subsequent risk to the business they’re working to build.

Designed with younger entrepreneurs in mind, the Accident Only Income Protection policy will cover them financially if they are medically certified as unable to carry out the main duties of their occupation, due to an accident resulting in a loss of earnings. Depending on their chosen benefits on taking out the policy, customers can choose a benefit of up to £6,000 per month.

The product 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.

Stubben Edge and National Friendly have developed a simplified online buying journey specifically for busy professionals and young people, or those who participate in hazardous pursuits, who expect speed, clarity, choice, personalisation and no hidden ‘nasties’ when purchasing products online, whatever they may be.

The policy also comes with a benefit guarantee and waiver of premiums as standard, and for premium add-ons, customers can choose at the outset whether they need to cover an enhanced list of hazardous pursuits or purchase an option for an accidental death benefit.

Built into the policy is access to National Friendly’s virtual GP service ‘Friendly GP’, which enables the policyholder to access a GP 24 hours a day, seven days a week, via telephone, video consultations, and an expedited referral system should further treatment options be investigated.

Oliver Jones, Sales & Distribution Director at National Friendly: “We have extended further our existing partnership with Stubben Edge, by utilising their technological expertise and our experience as a mutual helping member to take greater control of their health and finances for over 150 years, the collaboration offers a real solution to affinity partners who wish to protect their income.”

Karen Barretto, Deputy CEO of Stubben Edge, said: “We’re delighted to bring this new product to the market, in partnership with National Friendly which, by harnessing our tech to provide simple to use online buying journeys and access to our wider distribution network, brings benefits to the often-underserved UK small business community.”