The vast majority of rates will go down, with only a small number increasing. Where premiums have decreased, the average monthly reduction in premium is £1.65 – an average 4.4 per cent decrease.
Sue Wilkinson, Head of Life and Health Propositions said: “We’re delighted that the premiums on most of our plans will be lower as a result of our recent review. Our regular rates review demonstrates our commitment to the market, and ensures that our critical illness cover remains competitive and attractive to our intermediaries and their customers.”
Changes have also been made to Death benefit premiums, and where premiums have decreased, the average monthly reduction is £1.60 – an average 6.1 per cent decrease.
In addition, intermediaries who submit business using Scottish Provident’s online processing system will receive an extra 10 per cent commission on LAUTRO rates_. Intermediaries can find out more about this offer by visiting www.abbeyforintermediaries.com/protection.
QUOD version 5.11 will expire at midnight on 27 February 2005. Online users can update to the latest version (5.12) using the download feature on www.abbeyforintermediaries.com/protection. Offline users can request a copy of the new version by emailing [email protected].
