Legal & General has extended the age at which customers can add waiver of premium when taking out a protection insurance policy to 64.
The insurer said the move was in response to intermediary feedback.
The change in product parameters can be actioned by intermediaries and applies to new policies across term, critical illness, critical illness extra, family and personal income plan, rental life, rental life and critical illness, and whole of life protection plans.
While previously, customers up to the age of 55 on their next birthday could add waiver of premium to their policies, the changes mean customers up to the age of 64 by their next birthday will now be able do this.
The change in criteria means that for whole of life insurance policies waiver of premium will now cease at age 70.
For other policy types waiver of premium will continue to cease either at the end of incapacity, until a valid claim on the core policy benefit or until the policy expires.
The provider has also made a change to its direct to consumer offering by extending its Wellbeing Support services provided by RedArc.
It offers enhanced practical and emotional support, with services that focus on physical and mental health for additional peace of mind.
The help available ranges from a reassuring chat, information, advice and guidance to a clinical assessment and organising additional services.
It can help with chronic and serious physical illness, trauma, breakdowns in relationships, care concerns and later life planning among others.
Customers can access service on a regular basis, with ongoing tailored support from a specialised RedArc nurse, which allows them to supplement their NHS support.
Access to Wellbeing Support means more individuals and their families will benefit from greater flexibility. While the bespoke benefits of Wellbeing Support will still be offered exclusively via intermediaries, L&G said the move to offer a broader package to consumers is in response to rising living costs.
Mark Jones, product director at Legal & General Retail, said: “Creating products built around intermediary feedback is important as they’re often the first port of call in both buoyant and uncertain times.
“The product changes will allow us to keep more people covered for longer, so they have the support when they need it most.”
He noted that having been able to support intermediaries with Wellbeing Services over a number of years, the time was right to extend the offering direct to consumers as they contend with the cost-of-living crisis.
“The changes will improve customer outcomes for more people and will help keep more consumers, who may come under financial hardship, covered,” he added.