Legal & General (L&G) is increasing its immediate protection cover from 30 to 60 days as part of a dual enhancement of its proposition.
Immediate cover enables consumers to be protected while their application is being processed which, says L&G, is usually caused by waiting for GP reports.
“Legal & General now offers the most generous immediate cover in the UK protection market,” Russ Whitworth, L&G underwriting and claims director, says.
“It provides valuable peace of mind for clients whilst they are being underwritten for a policy, ensuring that as soon as they apply, there is a safety net in place should they die."
In addition, the company is doubling its business critical illness cover to £1m. L&G says both products have no pre-existing medical condition exclusions.
“Applicants for business life insurance with an added critical illness plan are also covered if they get one of the listed critical illnesses before their policy starts,” Whitworth adds.
“Immediate cover is especially useful for high net worth or business customers where the sums assured are often high and the underwriting more complex.”
Immediate cover is available for applications with a minimum sum assured of £100,000 and a maximum of £2m for term assurance and £1m for business critical illness cover.
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