LV launches new mortgage protection product

Wed, 28 May 2008

Liverpool Victoria (LV) has launched what is calls a revolutionary mortgage and lifestyle protection product.

According to Chris McFarlane, head of protection at LV, the new product is simple to apply for and can protect a person's mortgage payments and living expenses.

He said: "The credit crunch is contributing to people's anxiety about the rising cost of living and how they would be able to cope financially if they were to fall ill, have an accident, or be made redundant ."

The product is "transparent" and can also adjust to people's changing needs, Mr McFarlane added.

Anyone who takes out the cover has a choice of accident, sickness and unemployment cover, or just accident and sickness cover .

Meanwhile, research by MoneyExpert.com found that the credit crunch has reduced the number of people switching to new mortgage deals .

However, people looking to change home and car insurance products have not been affected.
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