UK general insurance provider LV= has enhanced its critical illness premium rates and, in some cases, reduced its rates by almost 30%. Across its guaranteed and reviewable combined life and critical illness contracts, 96% of premiums have been lowered.
Justin Harper, head of intermediary marketing strategy at LV=, said: This latest enhancement to our critical illness rates comes just a week after we announced improved term assurance premiums. However, over and above rate reviews we understand that it is the extra benefits that we provide to advisers and their clients that really can make a difference.
For advisers, our tele-underwriting and straight through processing services for our mini protection plan saves time, allowing them to focus on more important things. And we know that our extra care service, which is shortly coming up to its first anniversary, is highly regarded in helping policyholders handle living with a serious health condition or long-term disability following a claim under a critical illness policy.
LV=, which was formerly known as Liverpool Victoria, employs almost 1,800 people and serves more than 2.5 million customers and members.