PPS Mutual has launched an income protection underwriting offering for newly qualified professionals starting out in their career.

The Professional Choice offer will enable newly qualified professionals to increase their monthly income protection benefit by a maximum of 50% in any two-year period.

PPS said they can do this without the need for additional health or medical underwriting, however evidence of their increased income will be required.

PPS said the monthly benefit can be increased up to 75% of their regular income, subject to income limits that apply to each profession.

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Qualified professionals will need to have registered or received their quali?cation within the last three years, work a minimum of 20 hours per week, and generate an income.

PPS said the offer will expire either five years after its commencement or when the insured reaches age 45, whichever is earlier.

PPS Mutual's national underwriting manager Gabi Varnier said the offer is another step forward in the group's quest for continuous improvement and innovation.

"For professionals, time is - quite literally - money, and having to undertake several time-consuming medical assessments within a short period of time is not the best use of that time," Varnier said.

PPS said the offering fills a gap in the market left by the requirement on life insurers to cease offering new agreed value income protection policies in 2020.

Additionally, PPS said it sees the opportunity to engage and incentivise professionals to take out insurance cover at the beginning of their professional careers, in turn helping to combat underinsurance.

"This offering is also in line with the PPS Mutual philosophy that insurance cover is a long-term proposition," Varnier said.