Liverpool Victoria (LV=) has removed the last standard exclusion on its income protection range and increased the maximum benefits available to £150,000.
The company says the enhancements to its ‘mimi income protection’ product mean it is the first provider in the intermediary market with no standard exclusions on the life assurance, critical illness and income protection elements of their protection plan.
In addition, it says other immediate IP improvements include the removal of HIV exclusion on both IP and Mortgage Payment Protection’s Health and Integrated Health aspects.
LV= claims the 80% increase in maximum benefits to £150,000 a year, or £12,500 a month, makes the firm a “serious contender” for advisers’ larger cases. This is for all occupation classes with level cover; all occupation classes with index-linked cover (IP only) and occupation classes 1 and 2 beyond the age of 60.
The enhancements also include the addition of an ‘own occupation’ definition, available for clients whose occupation requires them to drive subject to certain details.
Stuart Tragheim, director of intermediary business at LV=, says: “We are committed to continually strengthening our IP offering. These improvements make us an even more compelling choice for advisers, with more comprehensive cover with no standard exclusions and our capability to cater for large cases.”
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