L&G to provide incentives for Group IP sales

Legal & General has announced that it will reimburse 10% of the premiums from the first year of Group Income Protection (IP) schemes to advisers. The scheme, which applies to products quoted before 31 December 2008, will pay out a maximum of £10 000 to advisers within thirty days of the first year’s premium being paid in full. The sole restriction to the incentive is that the policyholder must not have had an insured Group IP scheme for any of their staff within the previous year, including management buyouts. The provider said that for an ‘own occupation to benefit retirement age’ policy w...