LV= has further extended its offer to remove the initial 60 day unemployment claim exclusion for customers who replace their existing unemployment cover with its Mortgage & Lifestyle Protection cover. Normally, LV= would not pay a claim for unemployment cover if the customer became unemployed within 60 days of their plan starting.
LV= is now extending its offer by a further six months until the end of 2009.
At the same time, LV= is publishing its underwriting approach for unemployment cover, to help clarify, through a series of different scenarios, whether an application for unemployment cover would be accepted.
Chris McFarlane, LV= head of protection, said: “With the recession biting