|
New electronic rates for Critical
Illness Cover and 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
29 April 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 regains our competitive
position, particularly on Term Assurance with Critical Illness
Cover.
The
new premiums will be available from the following
systems:
Legal & General's Online Protection (OLP) and
portals such as the Exchange, Webline, Assureweb, Bankhall
Online and Lifequote.
The
table below gives a broad overview of these rate
changes:
| Term
Assurance (Life
only)
|
3% of
premiums will be reduced |
95% of
premiums will remain unchanged |
2% of
premiums will be
increased
|
| Term Assurance with CIC (guaranteed
premiums) |
50% of
premiums will be
reduced |
42% of premiums will remain
unchanged |
8% of premiums will be increased |
| Term
Assurance with CIC (reviewable premiums) |
43% of
premiums will be reduced |
46% of
premiums will remain unchanged |
11% 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 |
29 May 2007 |
eApplications
received
after 29 April 2007 will
receive the new
rates** |
| Last date for policy
authorisation |
29 August 2007 |
N/A |
* You will need to follow the usual Online
Protection manual process by contacting your service team, for
applications submitted from 29 April 2007 where you require
rates quoted prior to this date.
** If you have saved a
case and obtained an acceptance in principle prior to 29 April
2007 and now want to submit the case via OLP post 29 April
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. | 
