Royal & SunAlliance is cutting its level term assurance rates by up to 70% with the rate reductions ...
Royal & SunAlliance is cutting its level term assurance rates by up to 70% with the rate reductions affecting both individual and corporate cover.
The new rates take effect from this week and the reductions are of particular benefit to policies with sums assured of £150,000 and over.
For key person cover, the monthly premium falls by 70% from £68.66 to £20.81 for a male non-smoker aged 35 next birthday with a £500,000 sum assured over five years.
For personal cover, a male smoker aged 53 next birthday sees his premiums fall by 12% to £189.16 from £262.47 for a £225,000 sum assured over 12 years.
Royal & SunAlliance IFA personal market leader, Mark Edwards, said: "The cost of life cover is continuing to fall as life offices pass on the benefits of improving mortality.
"Our new rates will give us market-leading positions in many level term assurance sectors and combined with our underwriting expertise, allows IFAs and their clients to take out high levels of cover with the minimum of fuss."
For business loan protection cover, the monthly premium for a female non-smoker aged 37 next birthday falls by 52% from £51.24 to £24.94 for a £550,000 sum assured over five years.
For family protection cover, a male aged 45 next birthday and female aged 40 next birthday, who are both non-smokers, will see their monthly premium fall by 37% to £67.86 from £107.50 for a £250,000 sum assured over 15 years.
Meanwhile, Royal & SunAlliance has also announced the expansion of its direct investment business by launching a new website.
The site, which can be found at www.royalsun.co.uk/money, is offering customers a choice out of a range of 17 Isas for online purchase.
Each Isa has an individual risk rating, allowing customers to balance the level of their risk against income, growth or a combination of the two. The Isas are available on the site at a 4% discount.
The aim of the website is to allow consumers access and options to choose the Isa that is most suitable for them across the risk spectrum, according to Graham Hollebon, savings and investment manager at Royal & SunAlliance.
The emphasis of the site is on presenting simple guidance on investment decisions. The site also provides a full share price service, portfolio tools and a fantasy fund manager game.
The range of services that are available on the website will be extended throughout 2001.
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