L&G adds interest rate flexibility to life cover

It will now use one of four available interest rates on which to base the cover depending on the client's requirements, budget and appetite for risk. When an adviser generates a quote for a client they can input the desired interest rate into the portal. Legal & General will automatically match it to the equivalent or next highest of the four interest rates available. MDTA is designed to cover a mortgage debt and the sum assured decreases over the term of the policy, roughly in line with the mortgage as the capital is repaid. A lower interest rate will offer lower premiums but a...