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Skandia adds ‘last survivor’ option to joint life cover

Skandia has added a joint life ‘last survivor’ option to its rolling term life cover, which the provider says makes the product more widely suitable for estate planning.

The option means the lump sum is paid on the death of the second policy holder, rather than the first.

Quotes are now available from Skandia and portals Avelo, Assureweb and Webline.

Skandia head of protection Ian Jeffries says: “With the nil rate band frozen for several years, estate planning is becoming an issue for many more customers.

“The introduction of joint life last death rates further enhances the suitability of the plan to a wider range of customers with sizeable estates.”

Skandia’s rolling term life cover allows customers to extend their cover every 10 years with no further medical underwriting.

Premiums increase at each renewal based on age, and there is no maximum expiry age for the cover.

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