The budget IP product is available on the Webline portal alongside the other policies in LV=’s flexible protection plan (full income protection, life cover and critical illness), as well as its whole of life cover, LifeTime+.
Advisers are now able to compare premiums for LV=’s budget IP product against other full income protection products automatically. LV=’s budget IP product offers clients identical cover to its own full income protection product, but instead the budget product pays out the benefit on any single claim for up to a maximum of two years rather than up until retirement.
Mike Farrell, LV= head of protection sales, said: “The Webline portal is used by financial advisers nationwide so it is great that our budget income protection is now included. Adding our budget product to the portal will help us to extend our reach within the intermediary market, and give advisers access to a wider range of products when discussing the most appropriate level of cover for their clients.”
Capita Financial Software managing director, Adam Byford, added: “We are committed to expanding our product coverage to ensure that advisers have a range of options available for their clients. We are pleased that LV= has chosen to add this innovative IP product to Webline.”