L&G tweaks IP due to coronavirus

‘Uncertain times’

Adam Saville
clock • 1 min read

Legal & General (L&G) has temporarily removed its two-week deferred period for income protection

Only recently added to its offering, the feature, which pays out to policyholders off work for longer than two weeks, has been reset to four weeks for new applicants. L&G said it will honour claims made as a result of being diagnosed with COVID-19 for existing customers in line with its usual terms and conditions (T&Cs). Its products terms state that individuals would need to have a medical condition to qualify under its T&Cs. A spokesperson said: "In uncertain times, we would like to offer two certainties: our claims approach will always be fair and thorough, paying all valid clai...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Partner Insight: The everyday risks clients face

Partner Insight: The everyday risks clients face

New report sheds light on the common risks than can disrupt financial stability

MetLife
clock 20 November 2024 • 4 min read
Iress adds Scottish Widows' new IP to platform

Iress adds Scottish Widows' new IP to platform

Technology provider, Iress, has added Scottish Widows’ new income protection (IP) product to The Exchange - its quote and apply platform for intermediaries.

Jaskeet Briah
clock 06 November 2024 • 1 min read
To retirement or not to retirement

To retirement or not to retirement

IP is the Question

IPTF
clock 05 November 2024 • 3 min read