Bright Grey is offering a year’s free critical illness cover worth up to a maximum of £20,000 to the first 10,000 customers who take out a life policy to mark its 10th anniversary.
Customers will receive free CI cover worth 10 per cent of their life policy – up to a maximum of £20,000 – for a year from 22 April. So for example, a person taking out a life policy worth £150,000 will get £15,000 worth of CI cover free for a year.
At the end of the 12 months the free CI cover will end. If the client wants to continue the cover, the policy will have to be altered and then underwritten in the normal manner.
No commission is paid to the adviser for the free CI unless the customer decides to take up the cover permanently at the end of the 12 months.
The cover excludes total permanent disability but includes children’s CI cover to a maximum of £10k. Any claims paid for children will not affect the free CI cover or the main life policy.
Bright Grey managing director Roger Edwards says: “To help mark 10 successful years, as well as say thank you to our supporters, we will be running a series of offers, promotions and business-growing ideas, starting with this giveaway.
“The thinking behind the gesture is simple. To continue to build a thriving industry we need to encourage more people to take out more protection cover.”
Bright Grey says it has paid out £127m in life claims and an average of £10m a year on CI claims since it launched 10 years ago.