Life Insurance News - October 2010

Fortis Low Start Life & Critical Illness Cover

Fortis Life (soon to be Ageas Protect) specialist providers of personal protection such as life insurance, critical illness cover and income protection has introduced a low cost alternative to term insurance named 'Ageas ProtectLow Start'. Quite simply the premiums start low and increase with your age at each policy anniversary.

Brydee Greene, Sales Consultant at Lifebroker UK who is normally based in the Melbourne office at Lifebroker Australia said "This product is very similar to the products that have in Australia in that the policy increases each year with the consumer's age."

In Australia there is huge demand for stepped premiums rather than fixed ones as the cover is initially lower in cost. Presently in the UK there are two types of premium; reviewable (the premium is reviewed and the insurance re priced) or guaranteed (the premium is fixed for the duration of the insurance contract).

James Markwick, Managing Director for Lifebroker said "It is going to be very interesting to see the level of interest that this product attracts. We are hoping to add it to the Lifebroker website next week to see how the premiums compare to reviewable and guaranteed premiums. Personally it is good to see an insurance provider trying to reduce the premiums by introducing new innovative insurance products.
 

Posted under : Fortis Life, Level Term Life Insurance, Life Insurance Broker, Personal Insurance, Life Insurance Quote, Life Insurance Comparison, Insurance Products, Ageas Protect

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