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LV= is making a series of improvements to the LV= Flexible Protection Plan, its menu-based approach to providing income protection, critical illness cover and life protection.
Building on the award-winning LV= Protection range, the new changes include.
Life and Critical Illness with Enhanced Children’s Cover
As an alternative to its standard children’s cover, LV= introduces the option to take out Life and Critical Illness with Enhanced Children’s Cover. This includes child specific conditions, payments for pregnancy complications and increased payout levels:
LV= introduced a series of improvements to its Life and Critical Illness Cover in January 2020 with more comprehensive cover for 87* conditions (and 85 conditions for children), increased enhanced claim payments for 17 conditions and improved cancer coverage including a cancer diagnosis payment.
About LV= Family Income Benefit
LV= has updated its Family Income Benefit and added it to the LV= Fastway quote and apply system and LV= Flexible Protection Plan, with:
added guaranteed increase options for life events, including new family members and rental changes
Emotional and practical support for all protection policyholders
LV= offers members a range of daily benefits with the need to make claim including a 24/7 member care line with access to legal, medical and counselling experts. Plus LV= Doctor Services, provided by Square Health, with app-based access to remote GP, physio and mental health specialists, second opinion for people diagnosed with a serious illness, mental health support and discounted health assessments.
The dynamics and make up of families are diverse and ever changing – and so are their protection needs. We believe that contemporary protection requires more than a single insurance policy and offer more than just a financial safety net.
I’m delighted that we are offering more cover and support for new, growing and established of families – with child-specific critical illness cover, support for expectant mothers and through our Family Income Benefit, provision of an income after a parent passes away.
These changes strengthen our Flexible Protection Plan, enabling advisers to easily design an all-round financial protection solution - with the daily difference of emotional and practical support - tailored to the unique needs of their clients and family.