Standard Life reduces protection rates

clock

Standard Life has reduced the rates on its protection products with sums assured of between £100,000 and £250,000 to see level term and mortgage cover with accelerated CIC decrease by an average 6%.

Adjustments in rates from May 24th should see level term assurance (death only) cover fall an average 2.5% while death-only mortgage cover has decreased by an average 3.2%. Examples of new Standard Life protection pricing reveal a non-smoker male aged 30 with £100,000 cover of 25-year level term assurance plus accelerated critical illness cover will pay £28.73 a month compared with £33.65 prior to the price change, while a non-smoker male with 25-year £150,000 mortgage protection would pay £8.59 compared with £9.12 previously. Commenting on the rate changes, Mick James, marketing mana...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

The return of redundancy cover – and why it's important

The return of redundancy cover – and why it's important

Standalone unemployment insurance is making a comeback

Kesh Thukaram
clock 02 April 2025 • 3 min read
PDG responds to FCA Pure Protection Market Study update

PDG responds to FCA Pure Protection Market Study update

Expanded terms of reference

Cameron Roberts
clock 31 March 2025 • 2 min read
FCA: Protection commission ban is potential 'extreme' market study outcome

FCA: Protection commission ban is potential 'extreme' market study outcome

FCA: 'We're going into this with an open mind'

Jaskeet Briah
clock 28 March 2025 • 3 min read