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LV= launches 12-month budget IP plan

Insurer wants to make protection more accessible

Protection insurer LV= has added a 12-month claim period option to its budget income protection (IP) product.

In line with LV=’s existing full IP and 24-month budget IP products, the new 12-month option can be claimed on a number of times during the life of the plan and has no standard exclusions.

It is available to clients who select guaranteed premiums and can also be combined with other protection plans such as critical illness cover.

Debbie Kennedy (pictured), protection director at LV=, said the new option marks a further step in the insurer’s longer term strategy to help clients protect their income.

“We’re making valuable protection more accessible and flexing cover and benefits to fit the evolving world of work and needs of clients,” she stated.