
Option to reduce their monthly premium by decreasing cover amount by up to 75% for a period of six months
Following the introduction of a ‘payment break' for customers, LV= has confirmed has introduced a premium and cover reduction for clients who may be struggling financially as a result of COVID-19. The insurer told COVER that premium and cover reductions will not affect adviser commission, so won't trigger any clawback or change the indemnity period. LV= said: "We already offer a variety of support for your clients through built in product features, cover options and the recent introduction...
To continue reading this article...
Join Cover
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.