The latest product news from L&G;
L&G has launched its Standalone Critical Illness Cover product, giving advisers the flexibility to recommend critical illness cover on its own or alongside other protection products to suit their clients’ needs.
Developed in response to adviser, customer and market insight, the new proposition recognises the growing need for flexibility within protection advice, and that clients’ needs are not always best served through a traditional Life and Critical Illness policy.
In addition to L&G’s existing Life and Critical Illness proposition, advisers can now recommend Critical Illness Cover as a standalone product or alongside standalone Life Cover, Income Protection and other protection solutions. This gives them greater flexibility to build personalised protection plans that reflect their clients’ individual needs.
The standalone option may be particularly relevant for clients who already have life cover in place, want to address specific protection gaps, or are reviewing their cover as their needs evolve.
The product offers the same comprehensive cover available through L&G’s existing Life and Critical Illness Cover products, including children’s cover options and additional features including Increasing Cover, Total Permanent Disability and Waiver of Premium.
Pippa Barber, Commercial Director of Retail Annuity and Retail Protection, L&G: “No two clients follow the same path, so protection choices need to reflect their individual circumstances and the different risks they are managing.
“By allowing critical illness cover to be selected on its own, the standalone option gives advisers more flexibility to build holistic, personalised protection recommendations around each customer’s priorities, existing arrangements and protection needs.
“This is an important addition to our protection proposition menu, reflecting our continued focus on listening to adviser feedback and helping deliver better customer outcomes.”
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