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NU cuts protection rates

Norwich Union has announced protection price cuts across its mortgage, life insurance and term assurance range.

Almost 90 per cent of NU’s MLI premiums can now be found amongst the top three providers, compared to 59 per cent before the re-price.

Consumers taking out MLI and term assurance policies lasting longer than the traditional 25 year term will also see more competitive premiums available.

This reflects changes in market demand, which has seen increasing numbers of consumers requesting cover for 30 or 40-year mortgages, says NU.

Norwich Union Head of Protection Marketing Darren Dicks says: “We are constantly reviewing all of our protection products to make them as competitive as we can to the widest possible audience.

“Because customer needs are changing all the time, it is vital we take these market forces into account so we can give consumers exactly what they want at the lowest possible prices.”

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