Products: Income protection products still relevant, L&G says
Legal & General (L&G) has launched Lifestyle Cover, a new short-term income protection product.
It replaces L&G’s existing Mortgage Payment Protection product, and will 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.
Mark Holweger, director for L&G’s general insurance business, described Lifestyle Cover as being a lot wider than a typical PPI product, although he said the insurer still viewed PPI as relevant.
According to recent research conducted by the insurer, 67% of
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