The new addition to its income protection range offers as standard all the existing LV= benefits such as parent and child cover and doctor services, and is said to be aimed at budget conscious clients looking to protect their income.
The new 12-month option is available to clients who select guaranteed premiums and can also be combined with other protection plans such as critical illness cover for an all-inclusive safety net.
Debbie Kennedy, protection director at LV=, said: “The new 12-month option marks a further step in our longer term strategy to help clients protect their most valuable asset – their income.
“We’re making valuable protection more accessible and flexing cover and benefits to fit the evolving world of work and needs of clients.
“Our income protection is designed to give clients real peace of mind if they are ever in a situation where they can’t work due to illness, but also includes a range of benefits that provide a helping hand even when clients are working.
“Advisers told us that their clients are looking for more affordable income protection and our new 12-month option meets that need as well as offering our value-added features and member benefits from day one.”