WorksheetsLegal and General Income Protection Plans
Total questions: 10
Worksheet time: 5mins
What are the 3 main Income protection plans for Legal and General?
Income Protection Benefit, Personal Menu Plan, Mortgage Cover
Income Protection, One2Protect, Key Person Benefit
Income Protection Benefit, Low start Income Protection, Rental Income Protection Benefit
None of the above
What does Low-Cost option mean?
An option to lower the premium of the policy
The monthly benefit for a claim that meets the incapacity definition will be paid up to 12 or 24, depends on what the client has chosen
The monthly benefit will be paid every 24 months until the policy ends
The option for the client to choose a lower benefit every claim
If the client is working for less than 16hrs/ week, will he be eligible to get L&G Income Protection plan?
Yes, however is only eligible for ADL cover
Yes
No, the plans are available only to those working for more than 16hrs/week
No
How about if the client is self-employed for less than a year, will he be eligible to apply for L&G Income Protection plans?
Yes, but the max monthly benefit will only be 35% of gross earnings up to £240,000/yr)
Yes
No, the plans are available only if self-employed client has been working for more than a year
No
Which of the L&G Income Protection plan has the Guaranteed Age Increasing premium type?
Income Protection Benefit
One2Protect
Low Start Income Protection
Rental Income Protection benefit
When does the ADL Incapacity Definition apply for client with IP plan with L&G?
For high-risk occupation
For all types of occupation
If client is a houseperson, unemployed, student or retired
None of the above
For L&G IP Plans, all includes stepped benefit. What does Stepped benefit mean?
2 different monthly benefit
2 deferred periods and two levels of monthly benefit
2 deferred periods
All of the above
There are a lot of added value services for L&G IP plans, what is one optional benefit unique to L&G?
Proportionate benefit
Virtual GP Service
Private Diagnostics
Waiver of Premium
What happens if the client on Rental Income Protection is no longer renting as a result of taking a mortgage?
Client can change this policy to our Income Protection Benefit plan without the need for further medical information.
Client cannot change this policy to our Income Protection Benefit plan based on the T&C
Client needs to wait a minimum of 10 years before changing to other IP plans
None of the above
Which of the statements about Guaranteed Insurability option is True?
GIO allows client to increase their cover if the personal circumstance change without providing further medical evidence
GIO allows client to increase their cover if the personal circumstance change
GIO allows client to increase or decrease their deferred period, benefit level, expiry term
None of the above
