National Friendly has overhauled its Accident Only Income Protection (AOIP) cover, offering a new maximum claim period of five years.

The new five-year claim period, – up from two years previously, will pay a maximum benefit of £2,000 per month.

For its hazardous pursuits’ members, the maximum benefit on a five-year claim period will be £500 per month.

The friendly society has also introduced fracture cover as a new add-on in addition to accidental death and hazardous pursuits cover.

Fracture cover has a single, simple benefit structure with a maximum claim benefit of £3,000 in any year which will pay out based on mild, moderate, and major categories of fracture.

AOIP policies now also come with a £1,500 a year rehabilitation benefit as standard, allowing access to scans and tests, physical therapy, and rehabilitation to support recovery.

National Friendly’s AOIP covers an individual if they can’t work due to an accident and suffer a loss of earnings as a result, often making it a more affordable option or can be a solution for people struggling to get cover elsewhere.

The cover, which comes with the free added benefit of a 24/7 virtual GP service, is easy to apply for as the policy is not underwritten.

It has also introduced a new deferred period of 365 days, so its members now have the option to wait 30, 60, 90, 180 or 365 days before their benefit begins.

In addition, premiums will be reviewable on an annual basis rather than every five years.

National Friendly chief executive Graham Singleton said: “Our Accident Only Income Protection continues to address a gap in the market. We listen carefully to feedback seeking to make improvements for our members. By adding additional features such as rehabilitation benefit and fracture cover, we can provide our members more security and peace of mind on their road to recovery at an accessible price.

“For those who cannot either afford full cover or who may struggle to get income protection, AOIP offers an affordable alternative. Our recent research found that 7 in 10 UK workers have no form of income protection in place, highlighting the growing need to educate consumers on the benefits of protecting their income as well as the different options available, such as AOIP, within the market.”

Heidi Loughlin, advisor at The Protection Parent, added: “The need to have policies that are not medically underwritten are more important than ever, particularly with the growing number of diagnoses each year. Having more options on the market to offer clients financial protection for varying events is crucial.”