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Standard Life cuts term and critical cover rates

Standard Life is slashing rates on its lifetime protection products, including level term insurance and accelerated critical-illness cover under level and mortgage protection plans.

The cuts follow Standard&#39s business assurance relaunch in June, which saw it offer flexible options, reduce premiums and set up dedicated underwriting and legal helplines.

The latest rate cuts include life term cover for a 30-year-old non-smoking male over a 20-year term with £100,000 sum assured reduced from £12.65 a month to £11.79.

A level term plan including accelerated critical cover on the same basis would see the premium reduce from £21.11 a month to £17.14.

Marketing development manager Gerry Warner says: “The market continues to see a great deal of activity and we are keen to play our part. Level and reducing term plans are selling well and including critical-illness cover makes absolute sense.”

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