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Scot Prov limits stand alone CI sum assured to £0.5m

Scottish Provident is moving to limit its maximum sum assured on stand-alone critical illness to £0.5m.

Scottish Provident head of marketing and product development Nick Kirwan says IFAs will be receiving letters informing them of the change in the next few days. He says that while quite a few companies have stopped offering the product altogether, it believes there is still a market for it.

The change comes into effect on October 1, with applications in the pipeline still being accepted.

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