Providers see rise in Relevant Life Plans
8th September, 2015
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Legal and General saw a 43% year on year increase in Relevant Life Plan (RLP) submissions in its figures for June, reflecting a renewed emphasis on the need and benefits for Businesses to ensure their employees are protected. Head of Specialist Protection Richard Kateley said: "These figures are a real endorsement of the work we are doing […] to promote all aspects of Business Protection”. This was also in response to a Business Protection survey conducted by the leading provider, where it was discovered that only 28% had actually heard of, and therefore understood the benefits of, RLP.
Vitality Life has also announced a 91% increase in its Relevant Life policy sales, since Vitality health and rewards benefits were added to it at the end of 2014. This is the eighth consecutive year that the provider has seen its Business Protection Sales increase. Justin Taurog, managing director of sales and distribution for Vitality Life said that “2 out of every 3 business owners are choosing to include our Vitality health and rewards benefits on their RLP cover as an employee benefits package […] It's an offering that allows employees to benefit from healthy living and the rewards keep them appreciative of the cover they have in place”.
Providers understand that Specialist Protection such as RLP is just as important as the more well-known types of protection. That is why they have been working hard to ensure Business Protection rewards its customers with many of the additional benefits their other products have to offer. So if you are a business owner and interested in the benefits of RLP cover, then give us a call at Compare Life Quotes on 0800 024 8685 or 01202 714177 to talk you through your options.