Legal & General, a provider of investment and insurance services, is planning to extend the maximum sum assured for personal critical illness cover to GBP1 million, with effect from November 18, 2007.
Customers will now are able to take out an additional GBP1 million business protection on top of their personal cover, or alternatively have GBP2 million of business protection, if they do not choose any personal cover.
Bonnie Burns, Legal & General’s protection product marketing director, said: We are responding to the changing trends that underpin this market and are updating our product to meet the needs of today’s families and businesses. People are taking out larger mortgages and they require greater flexibility in terms of the amount of cover they need.
Furthermore we believe that there is huge potential to help businesses better protect their key assets – their people – and increasing the maximum sum assured to GBP 2 million reflects our commitment to this market. We’re tailoring protection cover to fit today’s lifestyles and business needs.