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Lincoln launches protection package aimed at IFAs


Lincoln is aiming to make major in-roads into the IFA protection market with the launch of a new flexible term assurance plan.


The Financial Protection plan offers policyholders a range of options and guaranteed premiums.


It is available on a level or decreasing basis for terms of one to 40 years.


Policyholders can opt for additional protection through either critical illness cover or accelerated permanent disability benefit, which pays out death benefits early if the policyholder suffers from a permanent disability.


Policyholders can also choose to protect themselves against illness during the term of their plan with mortgage disability income benefit.


This option provides tax free monthly income during the policy&#39s term if the policyholder is unable to perform two out of six activities of daily living. These ADLs include hearing, standing, speech, vision, use of pen pencil or keyboard and walking.


The MDIB can be selected on its own or with any combination of the other benefits. Unlike other income protection plans which are based on earnings and occupation, MDIB is calculated as a percentage of the loan.


Lincoln savings and protection manager Russell Owen says: &#34Since 1992 the number of people who need additional life cover, having opted for Pep or Isa mortgages has doubled.


&#34Financial Protection with mortgage disability income benefit is not only good value for money, but fulfils a very real demand for decreasing term insurance to support repayment mortgages.&#34

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