LV= has made a series of improvements to its protection policies over 2021 including:
- Introduced LV= Mortgage and Rent Cover, suitable for renters and flexible workers who would usually need to prove their income to qualify for traditional income protection policies. No evidence of minimum hours worked or proof of income is required when applying or making a claim, the adviser simply has to verify by obtaining documentary evidence that the cover amount does not exceed their client’s rent or mortgage payments.
- Launched LV= Executive Income Protection, enabling SMEs that find it difficult to access Group protection to provide monthly sick pay benefits for their employees. LV= will cover 80% of the employee’s earnings (including dividends) up to £300,000 a year for level cover and £225,000 a year for inflation-linked cover.
- Increased non-medical limits and streamlining of medical evidence: LV= now offer some of the highest non-medical underwriting limits in the market.
- Continuously reviewed its’ COVID philosophy: relaxing restrictions in line with the improving national picture, to ensure more customers who’ve recently had COVID continue to be accepted on standard rates at point of sale.
- Re-opened to customers with chronic health conditions: LV= were the first in the market to do so in April.
LV= members also have access to support services including:
LV= Doctor Services (included as standard on all protection policies) gives access to six expert medical services, all available through a convenient app including: — Remote GP 24/7 – appointments around the clock for every day health concerns through to serious conditions.
LV= Member Care Line (included as standard on all protection policies) – Free and unlimited access to a 24/7 Member Care Line, including health and counselling services. This is operated by qualified professionals who can provide expert support and guidance when it's needed most. This could include advice on their medical condition, coping with the loss of a loved one or coming to terms with their medical diagnosis.