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L&G introduces life and critical-illness plan paying monthly benefit

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&#39 monthly expenditure commitments can make protection cover

more relevant and understandable for some clients.”

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