Overview

Ant Insurance offers valuable income protection - it's accessible, affordable, worthwhile and robust. It is the only online insurance company to offer income protection for short periods of time: three and six months, as well as the industry standard of 12 months. This flexible approach to income protection meets the needs and budgets of individuals but is extremely simple to use - just a few clicks for a tailored quote. Because Ant Insurance is also an online only insurance provider, it can pass cost savings on to its customers, and is 51% cheaper than the current leading UK provider. Launched in June 2006, Ant Insurance is part of FIUK.com Ltd and the policy is underwritten by Bankers Insurance Company Limited, a member company of Assurant Solutions.

Background

Ant Insurance knows that life can have its ups and downs and that it may not only be people's income that needs protecting, but their way of life. So it offers affordable income protection for any financial outgoing, from a mortgage, to a car loan, to school fees.

According to statistics from Labour Market Trends, nearly two thirds (63%) of unemployed people find work in less than six months. The industry standard for income protection is to offer 12 months of cover - Ant Insurance seeks to address this short fall by also offering cover for three or six months, so people only pay for cover they are likely to use.

Furthermore, Ant Insurance aims to ensure that its insurance is affordable for those that need it the most. Given that insolvency amongst younger people is most prevalent , it offers age-based pricing with the lowest premiums for its youngest customers. Ant Insurance maintains good value for all its customers by passing on the cost savings of its online approach. Insurance costs from 60p per £100 of cover. For the price of a lipstick or a cinema ticket, it's easy for people to protect their way of life.

Offering

Ant Insurance is a new breed of Income Protection that is fully FSA compliant and addresses the key concerns raised by industry trade and consumer watchdog bodies concerning eligibility, suitability and affordability.

It offers income protection exclusively through its user-friendly website. It has a simple one-page quote engine that can generate tailored policies in just 20 seconds or 10 clicks. There is also 'live chat' and telephone support, which is manned by experienced and knowledgeable employees.

Its flexible approach means that customers can mix and match accident, sickness and unemployment cover and benefit periods of three, six or 12 months, according to their needs, circumstances and budget. Ant Insurance also offers Return To Work benefits to help customers ease themselves back into work by compensating for the financial shortfall if they return part-time on a reduced salary. In addition, it provides a Temporary Return To Work feature for customers receiving its unemployment cover who would like to undertake temporary work for up to six months. The policy will not pay for that period but, once the temporary employment concludes and the customer re-registers with the Job Centre Plus, the payments will continue as if there had been one continuous claim.

Cover provided by Ant Insurance is not linked to the customer's mortgage or loan, so the customer will not be excluded if he/she has significant levels of debt. Standard exclusions apply. All of its policies provide back-to-day one cover, after a 30-day qualifying period.

Corporate information

• Launched in June 2006
• Founded by Pam Needham, Company Secretary and Director, and John Needham, Director
• Ant Insurance is part of FIUK.com Ltd, an established and successful provider of affordable and appropriate creditor insurance since 2000
• Bankers Insurance Company Limited under the branding of Assurant Solutions provides claims, underwriting and administration services. Assurant Solutions is a leading underwriter of creditor insurance, providing insurance products to the UK since 1972