Norwich Union announced this morning it is increasing premiums on its term assurance and mortgage life assurance products from next Tuesday, where policies carry the critical illness option.
That means new policyholders who have yet to receive a quote still have time to take out products under the 'old' premium along with pipeline business which has yet to be completed or approved before Tuesday 16th December. As a result of the changes, premiums will increase on mortgage life insurance with guaranteed critical illness by an average 8%, says NU, while term assurance with guaranteed critical illness premiums will increase by an average 12% a week from today. Any pipeline business applications received between Tuesday 16th December and to 15 January will be processed under th...
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