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Financial comparison website Canstar has announced the winners of its 2018 Outstanding Value Award for Direct Income Protection.
Scooping the award were third-time winner NobleOak, which achieved a high score across all customer profiles for its income protection insurance; and Virgin Money, which nabbed the award for the second year running for its tailored income protection.
Canstar said it was impressed with NobleOak’s “customer-friendly” claim payment and “standout” facilities and policy benefits and options, with NobleOak “offering a death benefit of up to $75,000 and waiving premiums for up to 12 months in the event the insured person becomes unemployed or is on maternity leave.”
Virgin Money’s products, meanwhile, were noted for performing above the five-star rated average in terms of ease of application, the claims process, and support facilities on offer.
“Virgin Money also rose above the crowd for its policy terms, and policy benefits and options offered to people needing cover for recurrent disability, redundancy, and other benefits and options for policies with a specified injury or illness option, and those that provide cover for recurrent disability and redundancy cover,” Canstar said.
NobleOak CEO Anthony Brown said the NobleOak team was “thrilled to receive this award for the third year in a row.”
“This award is recognition that our product features and pricing are the best in market and what sets us apart when it comes to delivering genuine value,” Brown said.
Christopher Sozou, Virgin Money’s general manager for wealth and insurance, said they were delighted that their “commitment to providing the best value and experience for our customers has been recognised.”
“Sickness, injury and involuntary redundancy can seriously affect the lifestyle we work so hard to build,” Sozou said. “Virgin Income Protection offers flexible cover for over 1,000 different job types, including self-employed, to help our customers replace lost income when things aren’t going their way. And with a hassle-free claims process, you know we’ll be there when it matters most.”
