Immediate cover is where risk is assumed for an applicant before they are fully underwritten and is suitable for people who need protection urgently. Legal & General has also extended critical illness immediate cover to include those applications taken out for personal loan / mortgage protection, not just for business cover.
The new limits are:
- Life maximum sum assured - £3 millionj (previously £2 million)
- CIC maximum sum assured, business cover - £1.5 million (previously £1 million )
- CIC maximum sum assured, personal loan / mortgage protection - £1.5 million (not previously covered)