Commenting, Bonnie Burns, director, product and technical at Legal & General said: “We are so confident in the strength of our service that we want to level the playing field on price and be judged on our proposition alone. With dedicated support from our high net worth teams, fast and efficient case processing, and the backing of one of the largest underwriting teams in the UK, advisers will be hard pressed to look elsewhere for their high net worth business.”
Legal & General’s price match scheme applies to level and decreasing term assurance, with or without critical illness cover and for sums assured of between £600,000 and £5million for life cover or £350,000 to £1million (personal) or £2million (business) for critical illness cover. It also applies where the cumulative value of policies submitted at the same time and for the same individual meets these limits. These cases will already qualify for a price discount through Legal & General’s multi product discount facility, launched in November 2009.
The multi product discount facility gives a discount on multiple products or for two individuals applying for separate products (not a joint life policy) within the same application. An example would be an individual taking out a life policy to cover their mortgage and then adding family protection to cover critical illness, or two business partners applying for key man insurance.