Scottish Provident announces re-pricing of life and critical illness cover
25 October 2010
Scottish Provident, one of the UK’s leading protection providers, has today announced pricing changes to its life and critical illness cover rates. The changes are effective from Monday 25 October, and can be viewed at www.scottishprovident.com
Rates* have been reduced by as much as 3.4% for critical illness cover and as much as 5.3% for life cover.
For example, a female, non-smoker, aged 40, on a 20 year critical illness policy of a decreasing lump sum of £100,000 would previously have paid £30.14 a month. As a result of today’s re-pricing, a new customer of this criteria will now pay just £29.11 – a saving of 3.4%.
Susan Barclay, Head of Marketing, Scottish Provident, said: “It is more essential than ever for people to have a financial safety net in place that they can rely on should the worst happen. With the backdrop of millions of Britons without adequate provision, today's repricing emphasises Scottish Provident’s continued commitment to offering comprehensive, yet cost effective life and critical illness cover, which is vital for people looking to protect themselves and their families should they suffer a critical illness or die.
“Not only does today’s announcement mean that our customers are getting amongst the most attractive deals on the market in terms of safeguarding their financial futures, but the additional benefits available at no extra cost underline the fact that we are listening to our customers and the general market, many of whom are struggling to make ends meet.”
-ends-
* The majority of rates have been reduced, although there are a number which will stay the same and a few will increase. All new rates can be viewed at www.scottishprovident.com
For more information please contact:
Anna Moulds
Lansons Communications
T: 020 7294 3681
E: louisew@lansons.com
Adam Harwood
Lansons Communications
T: 0207 566 9725
E: adamh@lansons.com
Editors Notes:
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
• Scottish Life – UK pensions market
• Bright Grey – UK protection market
• Scottish Provident – UK protection market
• Royal London 360° – offshore investment markets
• RLAM – fund management
• RLAS – life and pensions administration
• Fundsdirect / Ascentric – fund supermarket; Wrap platform
Royal London also distributes life and pensions products through Santander’s UK branch networks.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £39.1 billion. Group businesses serve around 3.4 million customers and employ 2,890 people. Figures quoted are as at 30 June 2010.