Life assurance rates cut by Canada Life

Canada Life is cutting its term assurance rates, including its class one level, renewable and mortgage protection term assurance premiums, across the board by up to 18%. The group will also be changing the definition of a smoker to include anyone who uses or has used tobacco in the last 12 months. Canada Life said that the risks for cigar and pipe smokers, previously categorised as non-smokers, are known to be less than for regular cigarette smokers but there is still a bigger health risk than for those who do not smoke at all. Diana Harding, business development manager, protection at Ca...