L&G launches new income protection product
Legal & General has launched Lifestyle Cover, a new short-term income protection product.
It replaces L&G’s existing payment protection product, Mortgage Payment Protection Insurance, which covered only mortgage repayments, and will instead provide a monthly benefit payment linked to the customer’s level of income rather than to a specific credit arrangement.
These benefits can be paid for up to 12 months. According to recent research conducted by the insurer, 67% of people do not have any insurance in place to help them pay bills if they were to lose their jobs.
In further research
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