Adult payments within the Critical Illness Extra plan move up from the current lower of £25,000 or 25% of the sum insured to the lower of £30,000 or 25% of the sum insured.
Total life business volumes from both appointed representative (AR) firms also increased, with £13.43 million of life application commissions (up 5%) and £10.98 million of life completion commissions (up 4%).
The impact of cancer on UK workers alone causes a £9.3bn impact to the economy.
The equity release lender panel comprises of Aviva, Hodge, Legal and General, LV=, More2Life, Pure Retirement and Retirement Advantage, while the life panel is open to the whole market.
L&G said it wants to raise awareness of the importance of IP in protecting a client’s lifestyle and income.
Graves left Sesame Bankhall Group in September where he was managing director, while before that he was at Pink Home Loans, Linear Financial Services and LSL Property Services.
Nearly nine in every ten brokers (88%) feel they are not selling enough protection to clients, Legal & General Mortgage Club has found.
“Every pound of lending is a pound that needs protecting.”
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