Bright Grey has boosted its guaranteed rates by adding indexation to life and critical illness cover in a bid to guard against inflation.
Head of intermediary sales Kevin Stevens says it makes sense to consider inflation given the increasing utility bills, food, drink and fuel prices contributing to the rise in the cost of living.
He says: “Adding indexation offers excellent value for money by maintaining the true value of a client’s protection. It also means that cover can be increased every year without the need for medical information. Indexation is an immensely valuable option in the adviser’s toolkit. Selecting the indexation option, at no extra cost, gives their clients the added piece of mind that should they be ill during the term of the plan, they still have the ability to increase their cover.”
Indexation can be added at a fixed rate between 2 per cent and 5 per cent on guaranteed rates or linked to the retail price index. Bright Grey has also increased the maximum term of its life or critical illness cover from 30 to 40 years.