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CGU slated on term rate claims after Tesco deal

IFAs are outraged that CGU has written to them claiming to offer the best rates on term insurance while undercutting the same rates through a link-up with Tesco Personal Finance.

The letters sent to IFAs detail rate cuts in CGU&#39s range of term insurance products and claim the life office is committed to “providing IFAs with the best rates for their clients”.

But IFAs say the claims are unwelcome as CGU is offering better rates to the supermarket&#39s customers.

CGU press officer Fran Elliot says: “Tesco has taken considerable sacrifice in its commission to offer these prices. IFAs can achieve similar prices for their clients by adopting a similar strategy.”

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