Critical insurance times outlined by Legal & General
www.moneynews.co.uk > Insurance > Critical insurance times outlined by Legal & General
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Money News |
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Critical insurance times outlined by Legal & General
Tue 23rd Sep 2008
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They include buying a house, getting married, starting a family, starting a business and starting a new job.
Also listed are expanding a family, upsizing homes, divorce and approaching retirement.
At each stage, Legal & General cited the type of insurance required, such as critical illness cover or income protection.
Spokesperson Bonnie Burns said protection insurance is often mistakenly viewed as an "afterthought".
She also stressed that it needs to be reviewed at times such as moving house or expanding a family to avoid a personal protection gap from increasing.
Legal & General recently increased its limits for financial underwriting.
Life insurance now goes as high as £800,000 (previously £600,000) and critical illness cover is at £500,000 rather than £350,000.
Up to these limits, financial evidence such as loan offer letters will not be required.
Russ Whitworth, underwriting and claims director said Legal & General had "simplified the process" of financial underwriting.
Click here for more insurance news.
Related News : Insurance |
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Related News : Legal and General |
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