Home > Insurance > Healthcare & Protection

PruProtect unveils premium-reducing enhancements

PruProtect customers who demonstrate a healthy lifestyle could see their premiums cut and be able to lock-in these reductions, under plans announced last week.

By James Redgrave | Published Nov 20, 2008 | comments

Article Tools

People who look after their health by taking part in PruProtect's vitality programme may see almost 10 per cent reductions in what they pay for life, serious illness and income protection cover, according to the insurer.

Last week the provider also announced the lesser premiums would become "locked in" at the levels to which they fall.

In order to pass PruProtect's vitality test, customers have to prove they eat healthily, exercise and do not smoke and can receive discounts from a raft of health product providers, including LA Fitness and Virgin Active gyms and Champoneys health resorts.

The average saving would see a 30-year-old non-smoking male with a 20-year term life policy pay around £20 per month instead of £22.

Kevin Carr, director of protection development for PruProtect, said with these changes the potential for annual price increases across PruProtect's life cover, serious illness cover and income protection has now been removed.

Pipeline and existing customers will be given the opportunity to either continue with their existing policies or move to the new policy model, without additional underwriting.

He said: "Our serious illness cover is already the most comprehensive of its kind in the UK.

"As well as becoming more competitive, we are enhancing our proposition for consumers by allowing them to reduce their future premiums and keep them low."

Roger Sanders, an IFA with London-based Helm Godfrey, warned people's commitment to PruProtect's vitality programme "could be hard to prove".

Article Tools

visible-status-Standard story-url-FA8 Pru 250 JR.xml

Related Special Reports

See all reports
More on FTAdviser
FTA jobs
  • Financial Consultants

    Location: Nationwide

    Salary: To £39,880 + uncapped bonus + company car + home office set-up + Blackberry + laptop

  • Senior Healthcare Consultant

    Location: City of London

    Salary: £55000 - £60000 per annum + benefits (inclu Car Allowance)

  • IFAs – Are you at the cross roads?

    Location: Advice and position available in all parts of the UK

    Salary: Numerous packages available both employed and self employed