Legal & General is now offering customers a new ‘short-term’ income protection product. Lifestyle Cover.
The new cover allows customers to continue to maintain a range of regular financial commitments and living expenses, of their choice, should they not be able to work and so lose the regular income that would normally cover these payments.
Lifestyle Cover is based on providing a monthly benefit payment that is linked to a customer’s level of income rather than to a specific credit agreement, such as a mortgage or loan. This means that cover may be arranged to protect any number of things that matter to each customer. For example, mortgage repayments, rent, utility bills, credit card bills, food and/or childcare. Items that people told L&G in its research they consider essential outgoings.
Mark Holweger, director for Legal & General’s general insurance business, said: “Our aim is to continually offer quality products and services to our customers that meet their current and future needs. We believe Lifestyle Cover gives customers