Scottish Widows to introduce guaranteed rates

Scottish Widows looks set to introduce guaranteed rates for its critical illness (CI) product in March 2005, writes Peter Madigan.

A spokesperson for the company revealed that the provider is focusing heavily on CI next year with 'big changes' expected in the market in the first quarter of 2005.

The decision would see yet another provider enter the guaranteed sector. However, the company's marketing director for protection, Nick Kirwan, once again refused to confirm Scottish Widows' intentions. "I won't deny we have considered launching guaranteed rates but it's too early to make any announcements. We're not ruling anything out," he said.