LV= budget IP debuts on Avelo Exchange

IFAs will now be able to compare, quote, and apply for LV=’s budget income protection (IP) product through the Avelo Exchange.

The protection specialist said changes to the Avelo Exchange portal mean IFAs can now automatically compare premiums for full IP products against those with a limited claim period, such as LV='s budget IP which pays out for a maximum of 24 months.

The budget IP product is available alongside the other policies in LV='s flexible protection plan (income protection, life cover and critical illness), as well as LV=‘s family income benefit and whole of life cover.

Mike Farrell, LV= Head of Protection Sales said: "The Avelo Exchange portal is used by over 20,000 financial advisers across the UK, so it is good for the market that the portal now also supports income protection products with a limited claim period.

"The changes give IFAs access to a wider range of products when discussing what level of cover might be appropriate for their clients."