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Benefit boost for income protection

LV= has revamped its income protection product by increasing maximum benefits by over 80 per cent to 150,000.

It has also removed the only remaining standard exclusion across its IP range in a move which it claims makes it the first provider in the intermediary market to have no standard exclusions on life insurance, critical-illness cover or IP.

Other changes include the removal of the HIV exclusion on IP and mortgage payment protection insurance and the introduction of an own-occupation definition for clients whose occupation requires them to drive.

Director of intermediary business Stuart Tragheim says: “We are committed to continually strengthening our award-winning income protection offering. These improvements make us an even more compelling choice, with more comprehensive cover with no standard exclusions and our capability to cater for large cases.

“I am delighted by the developments and innovations we have introduced over the last year which make our propositions more attractive and easier for advisers. Examples include our highly regarded telephone underwriting and online processing services, our added-value benefits Healthy Steps and Extra Care and recent enhancements to our critical-illness cover.”

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