Prudential has reduced its guaranteed critical illness cover and protection rates by an average 8-13%, in a bid to put its back towards the top of the pricing table.
Following the repricing, premiums on level life have fallen by around 8%, while decreasing life cover is 13% cheaper, life and critical illness cover premiums have been reduced by 7% and decreasing life plus CIC is 6% cheaper. Having only re-entered the market three months ago, Prudential is seeking to keep its prices competitive and within at least the top four prices by regular using its repricing system to alter premiums within seven days, says Paul Cowman, head of protection at Prudential. “Being serious about this market means being competitive and taking the right steps to stay ...
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