Provider, Legal and General (L&G), has updated its protection policy flexibility so existing customers with increasing cover (indexation) policies will have the option to decline annual increases to their cover for up to three consecutive years.
Customers will also be able to keep this option to protect against future inflation, which L&G said ensures their protection "stays relevant and valuable as their needs evolve". The update follows adviser feedback, offering any customers reaching their policy anniversary from 1 January, 2026 the option to decline an increase in cover, while retaining the ability to increase cover on future anniversaries. This will apply to the provider's life insurance, critical illness cover (CIC), whole of life protection plan and income protection (IP) policies. The option was introduced to new ...
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