Legal and General has introduced a multi insurance product discount available through Contact Insurance and selected insurance brokers. A discount applies to people buying more than one insurance product (such as life insurance with income protection insurance) or two individuals applying for separate insurance products on the same application form - excluding joint life insurance policies.
For each additional product taken, L & G offer a discount of £1.50 from the monthly premium, divided across all products applied for.
One additional product would mean a discount of £0.75 from both plans, while two additional policies would attract a total discount of £3, to be split three ways. The discount applies for the term of a policy and is also open when ‘the insured’ who’ve been rated/loaded by L&G (those that have to pay an increased premium because of medical history or lifestyle concerns).
Examples of how you could save include an individual taking out a life policy to cover a mortgage and then adding critical illness cover, or income protection to the policy.
Protection Product Technical Director at Legal & General, Bonnie Burns, said:
We recognise that multiple products on the same application simplify things for advisers and clients, and also add cost savings due to the more straightforward underwriting.
We are therefore increasing the incentive for advisers to apply for multiple products thereby helping clients to get more for their money.
Legal and General is one of the largest insurers in the UK offering some of the most competitive prices on Life and Critical Illness cover. Compare rates with other providers using our online life insurance comparison service. If you have a need for more than one insurance product, it’s worth getting in touch with us to see how we could help you save money.