Scottish Provident adjusts premium rates

Scottish Provident has adjusted premium rates on its death or earlier critical illness benefit, effective from September 26 2005, with the majority of rates decreasing and a small number increasing.

Ricky Okey, director of Abbey Mortgage and Protection says: “This reprice demonstrates our commitment to offering people a great deal on their policies and reinforces Scottish Provident’s position as a leading provider of protection products.

“With rates reduced on most of our death or earlier critical illness policies, customers can be reassured of the same extensive cover, but for even better value for money.”

The reprice means that a 40 year old male non-smoker, for example, with a 20 year term policy will save more than 30 on annual premiums for death or earlier critical illness cover with guaranteed rates.

In addition, a 40 year old female taking out death or earlier critical illness decreasing cover for 25 years will pay 34 less a year.

Intermediaries who submit business using Scottish Provident’s online processing system will receive an extra 10% commission.