LV= reduces restrictions on unemployment insurance

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LV= reduces restrictions on unemployment insurance

LV= has announced that it will scrap one of the restrictions affecting its Lifestyle and Mortgage policy for new customers who switch to it.

The restriction which will be removed means that those who switch currently have to have been policy-holders for at least 60 days before they are entitled to claim unemployment cover.

LV= Lifestyle and Mortgage policy covers mortgage payments and living expenses in the event of a policy-holder losing his or her job.

Chris McFarlane, head of protection at LV=, said: "The onset of the recession has brought into sharp focus the reality of how important it is to have the right cover in place."

Recently, Zurich released research which showed that payments protection insurance has become less of a priority for people during the recession - a trend which the insurer said was worrying given the increasing number of redundancies.

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