LV= refines its income protection and critical illness products
Wed, 09 Mar 2011
LV= has updated its income protection (IP) and critical illness (CI) products, which includes an increase in the maximum age for cover on both of these to age 70.

The protection provider has also increased the amount of salary that can be covered on its IP product to 55 per cent, added a £1,000 benefit guarantee and removed the 'suited' occupation definition, defining more roles as 'own occupation'. The firm said this came from adviser feedback which asked for more simplicity on occupation definitions.

Guaranteed premiums for its CI product can be now extended to a maximum term of 40 years and the number of children's illnesses covered has been increased to equal those covered on the adult critical illness cover .

Mark Jones, head of protection at LV=, said the provider believed these enhancements strengthened its income protection and critical illness proposition and would benefit consumers and advisers.
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Critical Illness Cover

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