Royal London introduces five year payment option for IP

Customers who do not want or cannot afford a full term payment for income protection (IP) can now choose Royal London's five year payment option. The new payment period offers a more comprehensive cover option for IP than the current one year and two year options, which are the existing alternatives to a full term payment period. "Losing an income due to illness or injury is one of the biggest risks people can face, so it's important to have cover that can be tailored to individual requirements," said Christina Rigby, product specialist at Royal London. "Our five year payment period i...