LV= announces income protection enhancements
LV=, protection and retirement specialist, has announced that it has made enhancements to its income protection policy, resulting in another coveted Defaqto 5 Star Rating.
LV=’s income protection policy (which forms part of the protection menu, the Flexible Protection Plan) now includes Guaranteed Increase Options, which means policyholders can increase their cover without any medical or financial underwriting if they:
- Increase their mortgage
- Get married or register a civil partnership
- Have or adopt a child
- Have an increase in basic salary as a result of promotion, changing employer or gaining qualifications.
The policy now also includes Back to Work Support, meaning LV= may provide financial support and advice to help policyholders return to work with confidence.
Plus, LV= has added a Career Break Option where policyholders will be covered (for up to a maximum of £1,500 a month) if they decide to take a break from work. If they then return to the same job within 24 months they’ll be able to go back to their original amount of cover and premium without the need for any medical questions (provided they haven’t made a claim during this period).
Mark Jones, LV= head of protection, said: "These new enhancements further improve our already strong income protection proposition, and will help advisers offer greater flexibility and support to their clients.
“We’re extremely proud to have earned a Defaqto 5 Star Rating as a result of these changes and delighted that our policy is recognised as one of the best quality and best value products available in the market.”
Other benefits of LV=’s income protection product include:
- A choice of full or budget cover
- No standard exclusions
- Guaranteed premiums available
- A fair approach to future indexation
- In-house tele-interviewing service
- Dedicated large case team
- Published, transparent claims performance
- Ends -
Notes to editors
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.
LV= offers a range of services including car insurance, home insurance, life insurance, pet insurance, savings & investments, retirement planning and financial advice.
LV= employs around 4,000 people, serves over 3.8m customers and members, and manages around £9.3bn on their behalf. We are also the UK’s largest friendly society and a leading mutual financial services provider.
LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.
For further information please call:
020 7634 4418
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