Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 21st of May 2019
March 9, 2011

LV= improves critical illness and protection cover

by Richard Kilner

Story link: LV= improves critical illness and protection cover

Protection specialist LV= has announced that it is enhancing its critical illness and income protection coverage.

Those with income protection can now benefit from a £1000 benefit guarantee, with the maximum age of cover expiration rising to 70.

In addition, the maximum percentage of the salary covered is increased to 55% and the ‘suited’ occupation definition has been removed, with more roles defined as ‘own occupation’.

This change is the direct result of feedback LV= received calling for greater simplicity regarding occupations.

Critical illness cover also sees the maximum age of expiry rise to 70, with the maximum term, for guaranteed premiums, up to 40 years.

The number of children’s illnesses catered for has been extended to match those covered for adults.

Protection head Mark Jones stated that LV= was constantly seeking to enhance its propositions and said that the changes made would provide customers with significant benefits.

 

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