Norwich Union cut life insurance cost

Tue, 05 Feb 2008

To ease the pressure of the global credit crunch, which is apparently being widely felt amongst consumers, Norwich Union have decided to drop the price of their mortgage life insurance and term life assurance range.,

Following on from yesterday’s price protection guarantee from the insurance company, these cuts will help to shield borrowers from credit crunch impacts. For those purchasing critical illness insurance cover, and those taking out sums assured of over £1750,000 particular discounts could be made.

Further cuts were made to Norwich Union decreasing term insurance, as well as level term insurance . The re-structuring of prices also covers those mortgage life assurance policies that stretch beyond the standard 25-year mortgage .

The head of protection marketing at Norwich Union, David Dicks, reportedly commented: ‘There is still a huge demand for people to get on and move up the housing ladder with around a quarter of a million mortgages taken out in the last quarter alone."
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