Legal & General doubles immediate protection coverage

by Richard Kilner

Story link: Legal & General doubles immediate protection coverage

Legal & General has enhanced its immediate protection cover facility by doubling the coverage period from 30 to 60 days and its business critical illness cover up to £1m.

Immediate cover exists for those who are waiting for an application to be accepted as they undergo financial or medical underwriting.

Those for whom immediate protection coverage may apply to will usually have a GP report or suchlike waiting to be seen by Legal & General.

The firm offers the most generous immediate coverage in the UK, according to Underwriting and Claims director Russ Whitworth.

Whitworth explains that the coverage helps to provide assurance as individuals wait for their underwriting to be completed, as a form of policy safety net.

Immediate cover applies to those whose applications have a minimum sum assured of £100,000, a maximum of £2m for term assurance and business critical illness of £1m.

However, coverage is not likely to be extended to those whose risk of illness or accident is considered to be excessively high.