Legal and General insurance offers indexation on its products
www.moneynews.co.uk > Insurance > Legal and General insurance offers indexation on its products
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Legal and General insurance offers indexation on its products
Tue 29th Jun 2010
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Indexation is used to make sure that the sum assured keeps pace with the changes to inflation, which helps it to keep its value.
It is a change in policy as the indexation was originally charged up front, but feedback has found that consumers prefer to pay it off in instalments.
The costs will now be factored in to any increases that arise as a result of the annual indexation review.
It means that clients who decline the increase to their sum assured at review will have their premium frozen and will only pay a rise based on additional risk and the sum assured increase which had been taken out by them to that time.
Legal and General has recently praised the plans by the government for automatic enrolment on to pension schemes.
Click here for more insurance news
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Related News : Legal and General |
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