AXA has revised its rates for the following products:
- Level and decreasing life cover
- Level and decreasing guaranteed life or earlier critical illness cover
- Level and decreasing reviewable life or earlier critical illness cover
- Level and decreasing guaranteed standalone critical illness cover
- Level and decreasing reviewable standalone critical illness cover
- Guaranteed income protection
- Guaranteed mortgage income protection
AXA believes these new rates will be amongst the most competitive in the market.
59% of premiums have reduced in price, with an average reduction of 6%. In some situations premiums may stay the same or increase.
Iain Mallon of AXA, says: "This latest revision to our rates makes our income protection product even more competitive and with the recent Government changes to incapacity benefit, income protection has become an even more relevant cover to have. The revisions to our rates will make our covers even more affordable, without compromising on quality."