Standard Life reduces protection rates

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Standard Life has reduced the rates on its protection products with sums assured of between £100,000 and £250,000 to see level term and mortgage cover with accelerated CIC decrease by an average 6%.

Adjustments in rates from May 24th should see level term assurance (death only) cover fall an average 2.5% while death-only mortgage cover has decreased by an average 3.2%. Examples of new Standard Life protection pricing reveal a non-smoker male aged 30 with £100,000 cover of 25-year level term assurance plus accelerated critical illness cover will pay £28.73 a month compared with £33.65 prior to the price change, while a non-smoker male with 25-year £150,000 mortgage protection would pay £8.59 compared with £9.12 previously. Commenting on the rate changes, Mick James, marketing mana...

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