Norwich Union has cut prices on Mortgage Life Insurance and Term Assurance products in a bid to improve its offering for the UK's 12 million mortgage holders.
Those taking policies lasting longer than the traditional 25-year term will also see more competitive premiums available. This reflects changes in market demand, which has seen increasing numbers of consumers requesting cover for 30 or 40-year mortgages.
In February 2007 Norwich Union extended Mortgage Life Insurance and Term Assurance with reviewable critical illness to cover 40 year and 50-year periods respectively.
Darren Dicks, head of protection marketing for Norwich Union, says: "We are constantly reviewing all of our protection products to make them as competitive as we can to the widest possible audience. Because customer needs are changing all the time, it is vital we take these market forces into account so we can give consumers exactly what they want at the lowest possible prices.”
Critical illness: News update: May 2007
