At LV= we believe everyone should be supported with quality financial protection that pays out when it’s needed most. That’s why our updated Income Protection product now includes death benefit as standard.
What’s included?
- Death benefit is part of our Income Protection contract – not an ‘optional extra’
Automatically included and client’s don’t have to pay a separate premium - No additional questions, underwriting or processes
A simpler compliance process making us easier to work with - A fixed lump sum up to £10,000 if your client dies before the end of their policy
We’ll pay £5,000 if your client dies within four years of their policy start date or £10,000 if your client dies after four years or more of the policy start date.
If your client has multiple Income Protection policies with us, we’ll only pay a maximum of £10,000, irrespective of how many policies held - Additional security
Our death benefit provides additional security for the client’s family when it’s needed most.
Additional information
The lump sum will be paid to the policyholder and will form part of their estate for tax purposes. This means the money may be subject to inheritance tax under current legislation, depending on their personal circumstances.
Your client doesn’t need to have been claiming on their policy for their estate to receive our death benefit, if the worse was to happen.
Please refer to the policy conditions for more information.
If you’d like more information on our refreshed income protection, please visit lv.com/superfresh
We’re really excited about the changes. If you’d like to take part in a webinar or find out more, please contact me on the details below.
Kind regards
Stuart Mair
Business Development Manager
T: 07968 538 514
E: Stuart.Mair@lv.com
