View more on these topics

LV= launches new income protection product

LV= has launched a new income protection product designed to replace mortgage payment protection insurance.

The product, which Money Marketing revealed the firm was developing last year, pays out until the policyholder goes back to work, the plan term ends or the policyholder dies.

It has guaranteed premiums and bases disability definitions on own occupation. It offers cover for accident, sickness and unemployment, with level mortgage payment protection and the choice of level or index-linked living expenses protection. The policyholder can claim as often as necessary.

Head of protection Chris McFarlane says: “Based on extensive research, we saw that the market needed a more flexible product that could be tailored to their client’s individual needs and that was easy to understand. We believe this will stimulate the market at a time when advisers really need quality protection products to satisfy their clients’ needs as well as supplement their income.”

He says policyholders can alter their cover when their life circumstances change, for example if they move house, have children or get married.

Recommended

IFA complaints fall as bank cases soar

Complaints to the Financial Ombudsman Service about IFAs have plummeted from 12 per cent of total cases in 2006/07 to just 4 per cent in 2007/08 while bank complaints rocketed.

Developing your personal relationships – Webex

Read more 9amFinancial advisers and solicitors working together Presented by Ian Muirhead, director & chairman at Solicitors for Impartial Advice (SIFA) Listen to Ian’s expert insight and experiences of how financial advisers and solicitors can work together to deliver mutual benefit and enhanced client outcomes. Register here 10am Financial advisers and accountants working together Presented […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment