Did you know?
The number of households in UK’s private rented sector increased from 2.8 million in 2007 to 4.5 million in 2017 – that’s an increase of 1.7 million (63%) 1.
Only 26% of renters being likely to have life insurance or critical illness cover. 2
It’s also predicted that by the 2025, 50% of adults under the age of 40 will be renting privately 3.
We know that rental payments are every bit as important as mortgage payments in a household’s finances. With an extra 560,000 households expected to be living in private rented accommodation by 2023, the need for protection will be greater than ever 4.
Intermediary exclusive
Available only via intermediaries, our new Rental Protection Plan is designed to pay out a monthly benefit, which could be used to help pay the rent, in the event of a valid claim.
The plan offers three choices through a single application. Rental Income Protection Benefit, Rental Life Insurance and Rental Life Insurance with Critical Illness Cover, therefore having the flexibility for clients to select the most suitable protection product to meet their needs.
A plan to fit your client’s needs
- A choice of plans: Rental Income Protection Benefit, Rental Life Insurance or Rental Life Insurance with Critical Illness Cover.
- Access to a range of support: Rental Income Protection Benefit comes with Rehabilitation Service included. All three offerings include Nurse Support Services provided by RedArc Assured Ltd – as standard.
- An option to switch: If your client no longer rents a property as a result of taking out a mortgage, they have the option to change their Rental Income Protection Benefit (if chosen) to our Income Protection Benefit plan. (Conditions apply)
- Added reassurance: Could help your client pay the rent on their home in the event of a valid claim.
Here to help
- Latest insights: News and reviews on what’s happening in the rental market
- Regular Webinars: Up-to-date information on our products and services
- Accredited Workshops: Helpful support with CII accredited training
To learn more about our Rental Protection Plan, enrol on our webinar, or visit legalandgeneral.com/rpp
1https://www.ons.gov.uk/economy/inflationandpriceindices/articles/ukprivaterentedsector/2018
4 Knight Frank: Multihousing 2019 PRS research, pg 4