The insurer said the policy had been developed in response to adviser feedback and is designed for workers such as manual workers, tradespeople, teachers, nurses and drivers.
It also offers income protection cover for clients whose situation makes it more difficult to prove their earnings, such as those who are self-employed or regularly move jobs.
It providers ‘own occupation’ cover with a full or 2 year budget version available.
If a client normally works at least 30 hours a week they can have up to £1,000 a month insurance, with no financial checks at application or claim.
LV= will provide cover of up to 60% of a client’s earnings before tax (or 60% of net profit for the self-employed), for those who want more than £1,000 a month.
Clients can also choose ‘back to day one’ cover which means LV= will pay out from the first day they stopped working, as long as they’re off for three days in a row.
Richard Rowney, managing director of LV= Life and Pensions said: “As market leaders in intermediated income protection we wanted to provide a quality alternative solution in the ‘harder to insure’ space.
“Anyone can get sick or have an accident at any time, but the risks increase for clients in more physical or stressful jobs – so income protection can usually be expensive for them. We can now offer quality own occupation cover for a greater number of people at a much lower starting price through Personal Sick Pay.”
