Here’s what award-winning IP provider, LV, have to say about their new products:
Mortgage and Rent Cover
Simple, affordable protection with no financial underwriting
Mortgage and Rent Cover is an outgoings based protection solution that protects your clients monthly mortgage or rental payments. Our new product can help you protect more clients where traditional income protection wouldn’t always be suitable.
It’s ideal for clients with irregular earnings who may struggle to prove their income or hours worked. It’s also a great option for your clients who are just starting out and getting on, or trying to get on the property ladder.
What makes Mortgage and Rent Cover different?
- No financial underwriting is required
No proof of income or hours worked is needed. You’ll only need to validate the amount of cover isn’t more than their mortgage or rental payment by obtaining documentary evidence (such as mortgage offer or rental agreement).
- Certainty at point of claim
Our Mortgage and Rent Guarantee means we’ll pay the full chosen amount of cover throughout the claim when your client is unable to work due to illness or injury.
- Affordable cover with valuable benefits
Through LV= Doctor Services and our Member Care Line we can provide quick, convenient access to a range of everyday emotional and practical support services.
Executive Income Protection
Protecting smaller businesses when an employee can’t work
Through LV= Executive Income Protection you can help provide business owners and their people with financial security and valuable everyday support. Designed with smaller businesses in mind, our policy can help cover the cost of providing sick pay to employees.
Why should you consider LV= Executive Income Protection for your business clients?
- May provide tax efficiencies
Executive Income Protection is usually classed as a tax-deductible expense for the employer and it can be more tax efficient than personal income protection for the employee.*
- We offer a high maximum benefit
We’ll cover 80% of the insured person’s combined earnings, up to a maximum cover amount of £300,000 a year. The policy can also cover employer pension scheme and National Insurance Contributions.
- Valuable everyday benefits
We provide valuable benefits for the employer through LV= Business Care and everyday emotional and practical support for the employee through LV= Doctor Services.
*Based on our understanding of current legislation and HMRC practice, which can change in the future. Correct as of July 2021.