LV= has launched a new direct life cover for people looking for a simple, cost-effective way of providing for their loved ones in the event of their death. Most customers can be covered online immediately from as little as £5 a month.
Around 48 per cent of people have no life cover that would help their families should the worst happen, and many still assume that life cover is either too complex or expensive and would rather not bother.
LV='s new life cover application is designed to be quick, simple and straightforward. The process is in two stages: first you tailor your cover and get a quick quote, which should take less than two minutes, then go on to complete the application, normally within 15 to 20 minutes. Plain English is used throughout the process to make things as easy to understand as possible, and LV= also has UK based service agents on the telephone for extra support if needed.
LV= also ensures there are no nasty surprises for dependants if they need to make a claim. This is done by asking all the relevant questions up front and having no standard exclusions. This gives families peace of mind that their dependants are covered.
Mark Jones of LV= says, "Life cover does not have to be complex or expensive. There are thousands of people who want a simple, easy to understand life insurance product that is going to pay out should the worst happen to them. This product caters for those who do not want advice, and just want affordable reliable cover."
The plan is available as either level or decreasing cover, and comes with a terminal illness payout benefit, which means consumers diagnosed with a terminal illness before the end of the plan can opt to be paid out their lump sum prior to death instead.
Life insurance: News update: 20 May 2010