Levels of cover have been increased overall with the maximum level of cover increased to £40,000; a wider range of premiums from £10 to £75 per month are now available; and accidental death benefit has been increased to £48,000.
Two additional services are also integral to the new product: access to a free independent long term care advice service from one of the UK's independent care advisers; and a no cost funeral funding option in association with The Co-operative Funeralcare, which pays a £250 contribution towards funeral costs (terms and conditions apply).
Karl Elliott, marketing director at Engage Mutual, said:
"Understanding the market is critical to ensuring that our products can assist advisers in solving their clients' protection wants and needs,"
"Working closely with intermediaries for the past three years on Guaranteed 50 Plus Life Cover, we have honed and enhanced the product to make it a more accessible and comprehensive offer for clients seeking that little bit more peace of mind from their later life cover."
