L&G updates IP proposition

Michael Lloyd

May 24, 2019

Legal & General has updated to its income protection (IP), including the removal of generic alcohol and drug exclusions and increasing the overall maximum benefit limits.

The new updates are available via intermediaries from 12t May 2019, and also include more competitive pricing on its IP products and an income guarantee specifically for specific NHS workers.

Mark Jones, product director at Legal & General, said: “Offering quality cover at a competitive price is something we are committed to at Legal & General and that’s exactly what these enhancements to our income protection plans do.

“Whether it’s helping to keep up with mortgage repayments or covering day-to-day costs, IP really can make a big difference to the lives of customers.”

The maximum IP benefit limit has been increased from £200,000 a year (£16,667 a month) to £240,000 a year (£20,000 a month) which applies to employed and self-employed customers taking out a plan on a standard or low-cost basis.

Legal & General is also raising the limit on increasing IP plans to £168,000 a year (£14,000 a month).

This update sees the introduction of an income guarantee for NHS doctors, nurses and surgeons which is set at £3,000 a month.

The £1,500 income guarantee is unaffected and will remain in place for anyone who does not meet the criteria of being an NHS doctor, nurse or surgeon.

Customers on an IP plan will now have access to contact details and information on the NSS support services and they are able to access this at any point in the life of their policy.

IP is available to the life insured and their immediate family and offers support for a variety of areas such as mental health, bereavement and serious illness.


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