Legal & General adds payment holiday

The new option has been launched after the FCA set out guidelines to treating customers facing financial difficulties due to COVID-19. Providing payments are up to date or only one payment has been missed, L&G said customers will remain covered for 60 days from the date of the first missed payment (subject to policy terms and conditions). The insurer will collect the three months premium due once the payment holiday has ended and regular monthly premiums will automatically restart at the end of three months. L&G said on its website: "We'll collect the amount owed around the same ti...