Legal & General is strengthening its range of protection products with an
income plan for individuals and families.
The family and personal income plan is designed to pay out a monthly
benefit over a fixed term in the event of policyholder contracting a
critical illness or dying.
The plan features guaranteed premium rates, index-linked benefits,
terminal illness cover and lump-sum critical-illness cover for children.
Premiums start at £13.75 a month for life cover for a 35-year-old male
non-smoker rising to £38.95 when critical-illness cover is added on.
The plan forms part of the protection choice menu launched by L&G in
February. It includes standard protection products such as mortgage
protection, critical-illness and term insurance cover.
Director (protection) Ronnie Martin says: “Feedback from advisers
suggested the option of basing levels of critical-illness or term insurance
cover on clients' monthly expenditure commitments can make protection cover
more relevant and understandable for some clients.”