Royal London 360° has added two new benefits to its whole of life international protection product, LifePlan, to mark its first birthday.
Term benefits are now available until the age of 80, an increase from the previous limit of 65, which will allow the policyholder greater flexibility. Long-term care is now a standard feature of LifePlan and will be added to all existing policies - this will increase the level of cover given at no added cost. For example, if a customer’s health deteriorates and they become in need of assistance in day to day care on a long-term basis, they will be able to claim the critical illness portion of their life cover and receive a lump sum to help cover any associated costs or loss of income.
LifePlan aims to pay a cash sum on the death of the life assured, or upon diagnosis of a terminal illness. Its core benefit is life cover, which is available up to the value of USD7, 500,000 (or currency equivalent). It is available in four currencies - Sterling, Dollars, Euros or Japanese Yen.
Life insurance: News update: 2 September 2010