The potential for annual price increases across PruProtect’s Life Cover, serious illness cover and income protection has been removed. Policyholders who look after their health and wellbeing by engaging with PruProtect’s Vitality programme will be able to reduce their premiums and these lower premiums will be ‘locked in’.
PruProtect director of protection development Kevin Carr says: “As well as becoming more competitive, we are enhancing our proposition for consumers by allowing them to reduce their future premiums and keep them low”.
Pipeline and existing customers will be given the opportunity to either continue with their existing policies or move to the new policy model with no additional underwriting required.
Also in order to improve the premium and remove the potential for future increases for all policyholders some partner discounts have been reduced under Lite Rewards. Some discounts are smaller than those offered by PruHealth but Lite Rewards discounts are being enhanced until April 30 as a special offer.