LV- INCOME PROTECTION

What are the different Income Protection Plans under Liverpool Victoria?

• Flexible Protection Plan, Mortgage and Rental Cover, Personal Sick pay

• Income protection, Income protection plus, Personal Menu Plan

• My Earnings Protected, Flexible Protection Plan, Mortgage

• Income Protection budget, Low income protection

How many months should the client be a UK resident and registered with the GP to be eligible on any LV Income Protection plans?

• minimum of 6 months

• 12 months

• 24 months

• None. As long as the client has a permanent residence in the UK

What is the difference between FPP and PSP in terms of target market? 

• FPP is for employed whilst PSP is for self-employed clients

• FPP is for low-risk occupations whilst PSP is for High-risk occupations

• FPP is for high-risk occupations whilst PSP is for low-risk occupations

• None, they are both Income protection plans

Aside from residency and GP registration, what is the main eligibility for Mortgage and rental cover?

• The client should have the latest HMRC

• The client should have a continuous earning for the last 12months, no gaps, regular minimum of 30hrs/week

• The client's name should be in a formal UK mortgage offer, mortgage statement or legal tenancy agreement on their main residence in the UK

• The client should have an existing mortgage for a minimum of 5 years

What does Homemaker incapacity definition mean?

• the benefit pays out if the client is unable to prepare a meal or do basic housework because of an accident or illness

• the benefit pays out if the client is working from home

• the benefit pays out if the client's partner is unable to do basic homework

• the benefit pays out if the client choose to be the homemaker

Which added value service is available only in FPP but is not on Mortgage and PSP?

• Terminal Illness cover

• Critical Illness cover

• Fracture Cover

• Critical Illness cover for children

What is the fracture exclusion for FPP?

• 1 fracture cover in 12 months, for multiple fractures

• I claim per accident

• 1 fracture cover in 12 months, for multiple fractures, the highest cover will be paid

• 1 fracture cover every 24 months, each fracture will be paid accordingly

How much is the policy fee for LV Mortgage and Rental Cover?

• £5.00

• £2.00

• £0.00

• £3.00

Which LV IP plan has Guaranteed Age Increasing Premium?

• Mortgage and rental cover

• Flexible Protection Plans

• Personal Sick Pay

• All of the above

How much will be the new SSP starting Apr 2022?

• £95.35

• £99.25

• £96.35

• £99.35