LV= want to help you protect every type of client and their Personal Sick Pay (PSP) product is their Income Protection solution for clients in riskier jobs, like construction workers, trades people and the self-employed.
Depending on your client’s earnings, the amount of cover you choose for your client should normally be no more than 60% of their current or expected future earnings.
The PSP £1,000 guarante
Under their Personal Sick Pay £1,000 guarantee, your client can have up to £1,000 a month cover for the first two years of any claim, providing they can prove they normally work at least 30 hours a week and receive an income. If the claim lasts longer than two years, LV= continue paying the amount of cover your client applied for or 60% of their earnings before tax, whichever is lower.
It can also provide confidence to clients whose income could reduce between taking out the policy and making a future claim, like the self-employed.
LV= are here to help
To find out more visit LV.com/adviser, or for more information contact your usual LV= Account Manager or call 0800 032 4219.