Royal & SunAlliance (RSA) has slashed rates on its Progressive Protection term assurance product in ...
Royal & SunAlliance (RSA) has slashed rates on its Progressive Protection term assurance product in a bid to boost sales in the business protection market.
According to the provider, rates will be reduced by almost one-fifth from 2 July. Although the new rates are available for both family and business cover, RSA claims the cuts will benefit businesses with high sums assured of £250,000 or more, over shorter terms.
Combined with high non-medical underwriting limits and annually reviewable stepped premiums, RSA claims that the new rates offer an attractive package for clients.
Mark Edwards, IFA personal market leader at RSA, said: 'It is concerning how little employers understand business protection and the role it can play in minimising the impact on their business of CI or death of a key employee. Other business assets are probably covered by comprehensive insurance, so why not have comprehensive cover on their key people?'
