Norwich Union is today launching a new "Protection Promise" for policyholders.
Norwich Union is today launching a new "Protection Promise" for policyholders. The Protection Promise applies to both term assurance and mortgage life insurance and provides the following benefits for policyholders:
- Free life cover between application and acceptance of a policy (for a maximum of three months)
- The amount payable on death is either twice the sum assured, or Ł1million, whichever is lower.
Norwich Union’s current offer of accidental death benefit between application and acceptance of term assurance policies will be suspended for the period of this offer. However, current terms relating to free life cover on mortgage life insurance products will still apply.
The Protection Promise does not cover death by suicide, pre-existing conditions at the time of application or critical illness claims.
Lawrence Jackson, head of risk products at Norwich Union, said: “The Protection Promise is a great development for our customers and advisers. By placing customers ‘on risk’ as soon as we receive an application we are giving them security and peace of mind throughout the application process.”
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Press office contacts:
Rob Pell 01904 452659 Out of hours 07800 699563
James Evans 01904 452791 Out of hours 07800 699525
David Gwyer 01904 452828 Out of hours 07800 699508
Cheryl Cox 01904 452617 Out of hours 07800 695275
Notes to editors:
- Norwich Union is one of the UK's biggest insurers. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including CIS and The Royal Bank of Scotland Group. Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.
* The Protection Promise will be introduced immediately and will be reviewed on a regular basis.
* The Protection Promise can be withdrawn at any time.