LV= protection rate improvements at a glance:
Product * % of rates cut * Average % cut * Maximum % cut
Income Protection * 90.7% * 10.9% * 42.5%
Critical Illness * 87.5% * 7.6% * 29.2%
Lifetime + * 100% * 2.6% * 6.9%
Chris McFarlane, LV= Head of Protection, said: “At a time when selling protection has moved to the top of many advisers’ agendas, we’re delighted to be able to support these efforts by offering table-topping rates, improved product features and a marketing-leading free CI offer.”
Unique free Critical Illness cover offer
LV= is offering free CI cover to anyone taking out an IP policy under the LV= Flexible Protection Plan until the end of the year. These customers will receive free lump sum CI cover equivalent to three times their monthly income protection benefit. Free CI cover was initially launched as a short term offer in February 2009 and feedback from financial advisers was so positive that LV= decided to extend it until the end of this year.
Improvements to Critical Illness
In addition to the CI re-price and free CI offer, LV= is also making significant enhancements to the level of cover available and exclusion discounts. LV= is:
doubling the maximum cover offered to £3 million
applying premium discounts on CI plans when the applicant is excluded from cancer
Chris McFarlane continued, “The combination of market-leading protection rates, improved CI terms and our unique free CI offer makes LV= a compelling choice for advisers and their clients. And it’s more evidence of our commitment to providing great value for our customers and tangible help and support for advisers.”
For more information financial advisers can visit www.lvadviser.co.uk
