|
New
electronic rates for Term Assurance
As
part of Legal & General's long term commitment to the
protection market, we will be introducing a further reprice to
some of our electronic premiums for our term assurance
products, with effect from
28 January 2007.
Due to
the intensely competitive nature of the protection market, we
have responded where necessary to recent market movements by
our competitors. This reprice affects electronic
premiums for
Level
and Decreasing Term Assurance and Level and Decreasing Term
Assurance with Critical Illness Cover (CIC) (guaranteed and
reviewable premiums).
Average
premiums will be broadly decreased, however you may notice a
number of premiums remain unchanged or have increased.
This
reprice significantly improves our competitive
position.
The
new premiums will be available from the following
systems:
Legal
& General's Online Protection (OLP) and portals such as
the Exchange, Webline, Assureweb and Bankhall
Online.
The
table below gives a broad overview of these rate
changes:
|
Term
Assurance (Life only)
|
13%
of premiums will be
reduced |
75%
of premiums will remain
unchanged |
12%
of premiums will be
increased
|
|
Term
Assurance with CIC (guaranteed
premiums) |
49%
of premiums will be
reduced
|
45%
of premiums will remain unchanged
|
6%
of premiums will be increased
|
|
Term
Assurance with CIC (reviewable
premiums) |
44%
of premiums will be
reduced |
47%
of premiums will remain
unchanged |
9%
of premiums will be increased
|
The
above movements relate to all quote options for the products
listed, however please note that the actual change in premium
will differ according to the individual
case.
Transitional
Arrangements
|
|
Current
Rates* |
New
Rates |
|
Date
applications have to be received by
Legal &
General Services
Department |
28
February 2007 |
eApplications
received
post 28 January 2007 will
receive the
new rates** |
|
Last
date for policy authorisation |
28
May 2007 |
N/A |
*
You will need to follow the usual Online Protection manual
process by contacting your service team, for applications
submitted from 28 January 2007 where you require rates quoted
prior to this date.
** If you have saved a case and
obtained an acceptance in principle prior to 28 January 2007
and now want to submit the case via OLP post 28 January 2007
OLP should allow this to happen as long as the case is not
older than four months from the original quote
date.
Contact
Us
Our
specialist Protection sales team are only a phone call away.
If you would like further information on the above, please contact
us. | 
