Legal & General (L&G) has outlined the ‘key life stages' when certain types of protection cover may be most useful.
They include buying critical illness cover (CIC) and income protection (IP) when buying a house and the importance of reviewing IP when starting a new job. L&G says it is highlighting the life stages in a bid to plug a protection gap which currently stands at £2.3trn, according to a 2008 report by Swiss Re. Bonnie Burns, protection product marketing director at L&G, says: “Protection insurance is typically seen as an afterthought when buying a house, but it is much more important than that. “People may not realise that they could put their families under enormous financial pressure if...
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