L&G’s Retail Protection business has announced that existing customers with increasing cover policies will have the flexibility to decline annual increases to their cover for up to three consecutive years.

As part of this, customers will also be able to keep the option in order to protect against future inflation.

L&G says this ensures policyholders have more flexibility in the level of their protection cover.

Launched in response to adviser feedback, any customers reaching their policy anniversary from 1st January 2026 will be offered the option

It will be applied to L&G’s life insurance, critical illness cover, whole of life protection plan and income protection policies.

The additional flexibility had already been introduced for new customers in April 2025.

L&G commercial director, retail protection Pippa Keefe says: “This enhanced flexibility, which was offered to new customers in April, ensures that existing customers will also benefit from more flexible, future-proof protection that evolves with their needs.”