Norwich Union has a series of price reductions across its Mortgage Life Insurance and Term Assurance product ranges.
The move is designed to help those feeling the effects of the credit crunch and could ease the financial burden for the average house buyer. The reprice has focused particularly on providing affordable cover for sums assured of £175,000 and above. Notably the average house price now stands at £183,959.
Those purchasing policies with critical illness cover will benefit in particular.
Decreasing term life insurance with critical illness cover has been cut by an average of 3%, while level term life with critical illness cover has seen an average cut in rates of around 2%.