Legal & General
Legal & General Income Protection
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More About Legal & General Income Protection
Founded in a Chancery Lane coffee shop in 1836, Legal & General plc is a leading insurer in the field of protection insurance, with more than 10 million customers worldwide. Legal & General are constantly winning awards for their product range and service.
At Protect Income Insurance, our main observation is that Legal & General income protection insurance suits people in relatively low-risk occupations. There cover is comprehensive and could provide generous benefit pay outs in the case of a claim.
Legal & General: Your Step By Step Guide
Legal & General offers “own occupation” cover, enabling you to claim if you are unable to carry out your own profession or job, rather than any occupation.
If you have a profession category considered by Legal & General to be “lower risk”, L&G’s cover could be ideal. For example, you are more likely to qualify for income protection if you work in an office for most of the time, say 75%. If you are an agricultural artist, or have a high risk job, L&G’s cover will not be suitable for you.
Legal & General offer a maximum cover benefit of up to £200,000 per year. This cover could suit higher wage earners.
With a Legal & General income protection insurance product includes an Income Guarantee. If your salary decreases during the lifetime of the policy. You are guaranteed an income of either your initial entitlement, or £1,500 per month – whichever is lower.
Making A Claim & Salary Decrease
In the event of a claim, if you work 16 hours a week and are not receiving a regular wage. Or if you are unemployed when you claim. If your incapacity includes everyday activities you could still be eligible for pay outs.
Evidence and Proof. As with all income protection insurers, you will need to offer proof of incapacity, such as medical reports, as well as proof of earnings for the last 12 months. You will also need to provide some form of written consent.
If your salary decreases during the lifetime of the policy and you claim. You will receive benefits either based on £1,500 per month or the original benefit that was agreed (whichever is the lower).
Activities of Daily Living. Although L&G uses own occupation cover, ADW cover is relatively strict, stipulating that you must be severely incapacitated in order to claim. Activities could include walking, reading, writing, bending over and speaking.
Benefits From Legal & General
Second Medical Opinion Service. Legal & General offer you access to a second opinion on your diagnosis, should you so choose. You will be given up to £300 for a private consultation, plus a supporting report which will be sent to you and your GP
Hospitalisation Benefit. Should you require hospital treatment, L&G provide this benefit of up to £150 per night, payable for up to 13 weeks. This is available until the end of the deferred period or until you leave hospital, depending on which is the soonest.
Life Cover. A lump sum equal to 12 times your monthly premium will be paid out to your family if you die during the lifetime of the policy.
Continuous Cover. Legal & General will continue your cover even if you lose your job or go on maternity or paternity leave.
Need Help From Protect Income Insurance?
Our aim is to help every customer in their journey when protecting themselves and their families. By making an informed choice on insurance products, it will offer peace of mind and the protection that you need. At Protect Income Insurance we have the expertise and experience to help you do just that.