Standard Life has announced a reduction in premium rates on its Lifetime Protection series of produ...
Standard Life has announced a reduction in premium rates on its Lifetime Protection series of products.
The reductions are the fourth this year and will mainly affect rates on life cover for business loans and mortgage protection.
Gerry Warner, marketing development manager at Standard Life, said: 'In conjunction with the recent re-launch of our Business Assurance range of contracts, this rate reduction further strengthens our competitive position within the business protection market. It also provides us with a timely opportunity to capture a larger share of the prolific house purchase market.'
Under the new terms, a joint life policy on a 20-year decreasing term on a sum assured of £100,000 for a non-smoking male and female, both aged 30 next birthday, would cost £8.06 per month compared with £10.11 previously. This amounts to a reduction of 20% per month.
