Protection specialist LV= has added a 12-month claim period option to its existing Budget Income Protection product.
This new addition to its Income Protection range offers as standard all the existing market-leading LV= benefits such as parent and child cover and Doctor Services, and is aimed at budget conscious clients looking to protect their most valuable asset – their income.
In line with LV=’s existing full Income Protection and 24-month Budget Income Protection products, the new 12-month option can be claimed on a number of times during the life of the plan and has no standard exclusions.
The new 12-month option is available to clients who select guaranteed premiums and can also be combined with other protection plans such as Critical Illness cover for an all-inclusive safety net.
Debbie Kennedy, Protection Director at LV=, said: “The new 12-month option marks a further step in our longer term strategy to help clients protect their most valuable asset – their income. We’re making valuable protection more accessible and flexing cover and benefits to fit the evolving world of work and needs of clients.
“Our Income Protection is designed to give clients real peace of mind if they are ever in a situation where they can’t work due to illness, but also includes a range of benefits that provide a helping hand even when clients are working.
“Advisers told us that their clients are looking for more affordable Income Protection and our new 12-month option meets that need as well as offering our value-added features and member benefits from day one.”
LV= has been named Best Income Protection Provider at the Moneyfacts Investment Life & Pensions Awards every year since 2010.
LV= is a leading financial mutual and serves over 5.8 million customers with a range of financial products. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We offer our services direct to consumers, as well as through IFAs and brokers.
Liverpool Victoria Friendly Society Limited (LVFS) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered number 110035. Registered address: County Gates, Bournemouth BH1 2NF