Zurich returns to the protection market
It has announced rate reductions of up to 25 per cent on its Critical Illness, Term Assurance and Decreasing Mortgage Cover products, which are effective immediately.
Zurich has initially applied rate reductions on these three products, with further enhancements and rate reviews planned for the Income Protection Plan (IPP) and Adaptable Life Plan during the second half of the year.
Having recently been appointed as the protection provider for Openwork, the UK's newest and largest multi-tied distribution company, Zurich will also be building its proposition to target the wider IFA/multi-tie market during 2005.
Gerry Warner, Protection Marketing Manager says: “By making these changes and moving with changing demands in the market, we will ensure that Zurich maintains and improves its position as a top protection provider.
“We want to ensure that our protection proposition appeals to the whole spectrum of advisers. We are introducing more competitive rates and looking to offer terms to as many applicants as possible with inclusive but robust underwriting terms and, by doing so, aim to capture an increased share of the protection market.”