Protection challenger Guardian has announced that it will launch income protection cover in the coming weeks.

The new product will sit alongside its existing policies such as life, critical illness and combined life and critical illness protection.

Guardian says it will offer a full menu on its Protection Builder 2.0 quote and apply system.

This will allow advisers to combine different cover types that makes needs-based protection recommendations for clients.

According to the insurer, the new income protection product has been created in collaboration with advisers and is based on their feedback.

The result is an affordable protection solution for clients looking to protect their income if they are unable to work due illness or injury.

Guardian marketing and proposition director Jacqui Gillies says: “At the core of our design is the customer and what they should expect from an income protection policy; namely, a definition that is easy to understand and pays out when they need it to. So, one particular highlight of income protection, is that we’ll cover ‘own job’, rather than the more traditional ‘own occupation’.

“This distinction gives our customers more certainty that, if they need to claim, their cover will pay out based on an assessment of the actual job they do, and not just a wider assessment of their occupation.

“‘Own job’ is language customers know and understand, and that’s important for customers to know what they’re covered for. We also won’t offer terms based on activities of daily working as this rarely results in a successful claim.”

Gillies adds: “On top of this, our Premium Waiver goes further than most – we’ll waive premiums after 28 days, even if the customers’ deferred period is later and if they’re not yet losing income.

“And as we do with our current products, after the policy has been in force for 12 months, we’ll waive premiums for up to 6 months for maternity/paternity and redundancy.”