Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 19th of June 2018
November 27, 2007

LV overhauls Income Protection range

by Gill Montia

Story link: LV overhauls Income Protection range

Liverpool Victoria (LV), the UK’s largest friendly society, has overhauled its award winning income protection product range.

The improvements are aimed at simplifying products and making them more attractive to both financial advisers and their clients.

The main enhancements to cover are as follows: a simplified approach to business mileage; enhanced rates for teachers and dentists; improvements in rates for over half of LV’s guaranteed income protection cover.

Premiums on 54% of guaranteed combined life and critical Illness cover have been reduced and changes have been made to the terms and conditions of mortgage payment protection unemployment cover, under the Flexible Protection Plan.

The policy lapse date has been extended on this product from 30 to 60 days.

In September of this year LV was named best income protection provider at the annual Life & Pensions Moneyfacts awards and Richard Eagling, editor of investment, life and pensions at Moneyfacts described LV as “the leader in the income protection market”.

The insurer appeared on the shortlist for five categories in the areas of protection and savings and investments.

 

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