LV reprices critical illness products
Thu, 04 Mar 2010
LV= has announced it is to cut the majority of its critical illness (CI) rates, with average rate cuts of up to 4.3 per cent on some policies.

The mutual insurer said there will be price cuts across 80 per cent of its critical illness (CI) range, including critical illness and combined life and critical illness policies and it will also reduce rates for higher sums assured on some term insurance contracts.

Mark Jones, head of protection at LV =, said: "This sweeping re-price reflects LV='s commitment to helping advisers sell the most appropriate mix of protection for their customers' needs. As part of our ambitious plans for this year, we are looking to increase our share of the critical illness market and are prepared to maintain our keen pricing in order to continue to provide best value."

Standalone critical illness cover will see 68.3 per cent of rates cut, while 31.6 per cent of policies will see an increase in rates.
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