Friends Provident International Protector Review

Jun 05

Friends Provident International Protector

As an impartial Independent Financial Advisor, I review a lot of insurance product and I must say that the ‘International Protector’ – Term Life Insurance plan offered by Friends Provident International is quite competitive and offers good value for money.

International Protector at a glance

Type of Policy

Friends Provident offers only one product for protection called International Protector Middle East. International Protector Middle East is a comprehensive and flexible suite of products, offering Life, Disability and Critical Illness Cover within one plan.

International Protector Middle East is a Level Term Insurance Plan i.e., the cover remains level over the term of years. International Protector Middle East can provide protection for the family, mortgage, business or all of these. The plan can be tailored to meet individual needs and requirements with the flexibility to increase or change the cover in the future.

It provides three different types of cover:

  1. Life Cover (with Optional Total and Permanent Disability Benefit),
  2. Critical Illness Cover and
  3. Life or Earlier Critical Illness Cover.

International Protector Middle East is available on a single life or joint life first death basis.

Plan Currencies

You can have this term insurance plan in the following currencies

  • US dollar
  • UK sterling
  • Euro, and
  • UAE dirhams.

Minimum Age at entry

19 next birthday

Maximum Age at entry

  • Life Cover only: 65 next birthday
  • Life Cover with Total and Permanent Disability: 55 next birthday
  • Life Cover with Earlier Critical Illness Cover: 60 next birthday
  • Critical Illness Cover: 60 next birthday

Minimum Term of policy

  • Life Cover: 1 year for annual premiums, 5 years for monthly premiums.
  • Life Cover with Total and Permanent Disability Benefit: 5 years
  • Life Cover with Earlier Critical Illness Cover: 5 years
  • Critical Illness Cover: 5 years.

Maximum Term of policy

35 years

Minimum Premiums

  • USD17.50 / GBP10.00 / EUR15.00 / AED64.50 per month
  • USD175.00 / GBP100.00 / EUR150.00 / AED645.00 per annum.

Payment Methods

Monthly premiums can be paid by either Bankers Standing Order, Credit Card or a series of post-dated Cheques. Annual premiums can be paid by either Bankers Standing Order or Credit Card. Credit Card is currently unavailable for Dirham policies.

Minimum Sum Assured

USD17,500 / GBP10,000 / EUR15,000 / AED64,400

Benefits

Life Cover

The death benefit will be paid as a lump sum. If the policy is on a joint life basis, the benefit will be payable on the first death.

Optional Total and Permanent Disability Benefit

If included, this will pay a lump sum if, during the cover term and before the 65th birthday, we receive evidence that one of the lives assured becomes totally and permanently unable, because of physical injury, to meet certain disability criteria.

Critical Illness Cover (Standalone)

The benefit will be paid as a cash sum if, during the cover term, you are first diagnosed with a specified Critical Illness or Disability and then survive for at least 28 days. If the policy is on a joint life basis, the benefit will be payable on the first diagnosis of a Critical Illness or Disability of either life during the cover term.

Life Cover with Earlier Critical Illness Cover

The benefit will be paid as a cash sum if, during the cover term you die, are diagnosed with a Terminal Illness or specified Critical Illness or Disability. If the policy is on a joint life basis we will pay the cash sum if during the cover term one of the lives assured dies, is first diagnosed with a Terminal Illness or specified Critical Illness or Disability, whichever happens first. Critical Illness Cover will cease on the Life Assured’s 70th birthday or earlier if the policy has finished.

Pros

  1. Very competitive premiums
  2. You can apply for Critical Illness Insurance (including Total Permanent Disability) by itself
  3. No charges on Credit card payment
  4. Online policy administration through dedicated user login.

Cons

  • There is no option for decreasing term life cover for mortgage protection.
  • Terrorism and war-related death not covered.

User Review

What has been your experience with Friends Provident International Protector? If you have any thoughts or comments, please feel free to leave them below.

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About the Author

Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide.

He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’.

He helps business owners and professionals ‘Create A Second Income’ through investments.

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