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LV= cuts CI rates

LV= has cut its critical illness rates by as much as 31 per cent.

The protection provider says it is slashing rates across 82.5 per cent of its CI range, with reductions ranging from 4 per cent to 31 per cent.

The average cut for combined guaranteed life and CI will be 6.7 per cent, and some up to 31.2 per cent. Around 99 per cent of polices will be reduced, and 0.5 per cent will increase.

The average cut on combined reviewable life and CI is 4.3 per cent, and some up to 18 per cent. Around 82 per cent of rates will be cut, and 17.8 per cent will increase.

For standalone CI, 68.3 per cent of rates will reduce, while 31.6 per cent will be increased. The average cut is 1.6 per cent, and some up to 17.1 per cent.

LV= head of protection Mark Jones says: “As part of our ambitious plans for this year, we are looking to increase our share of the critical illness market and are prepared to maintain our keen pricing in order to continue to provide best value.”

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