Zurich reprice's Level Protection Plan (LPP) and Decreasing Mortgage Protection (DMC) on 9th June 2010;

·        Adjustments to our rates across all areas with an overall reduction and re-shaping of rates
-         around 60% of rates being reduced
-         approximately 10% of rates have stayed the same
-         30% have increased.
·        Targeting rate cuts for higher sums assured (over £100,000) for LPP life cover - maximising our coverage in the Business and Family Protection markets.
·        Reasonable reductions for decreasing critical illness cover.
·        Main rate increases are for male smoker critical illness rates across all sums assured.


Cut over rules

·        From 9 June 2010 illustrations will automatically show the new rates.  
·        Illustrations produced before 9 June 2010, not yet applied for, will still be honoured as long as they are submitted within the 30 day validity window.
·        Pipeline business will have the old rates applied to them, unless requested to change to the new rates by contacting the new business team.