Robin Willison, Director of Protection Sales at LV= said:
"Our acceptance onto the Openwork protection proposition further cements our position as a market leading protection provider and our commitment to the intermediary market. With the impact of the recession still biting, our market leading cover is more relevant than ever.
"Not only does our Mortgage & Lifestyle Protection offer customers real long term protection, it is also backed up by great service and a proven sales tool-kit , which will be available to Openwork advisers."
Openwork's Mortgage and Protection Proposition Director, Paul Shearman, said:
"MLP is an innovative, award winning income protection product that gives our Advisers more options when discussing protection with their clients. Guaranteed premiums and the opportunity to add unemployment cover, in particular, I know will be very well received by the Network.
"We are really looking forward to working with the team at LV= to take advantage of the new opportunities MLP will offer."
Andy Ferns, Openwork's Sales & Marketing Director, commented:
"We are delighted to welcome LV= to our provider panel. Their joining demonstrates the progress that Openwork continues to make in terms of broadening the proposition for our advisers."
LV= Mortgage & Lifestyle Protection boasts two five-star ratings from Defaqto, meaning it is rated as one of the very best compared to other MPPI and IP products available in the market. The LV= product has also recently won the Innovation Award at the prestigious Investment Life & Pensions Moneyfacts awards 2009.
Mortgage & Lifestyle Protection provides customers with accident, sickness and optional unemployment cover. The accident and sickness cover pays out until the plan holder is able to go back to work or their plan ends, however long it takes and is not limited to 12 months like most traditional MPPI policies. The unemployment cover pays out for up to 12 months at a time, and for a maximum of 36 months in total.
Premiums are also guaranteed for the term of the plan, unlike traditional MPPI, so there are no premium reviews or age banded increases. So customers have the peace of mind that their premiums will not increase, even if their personal circumstances change.
