Article date: 17 October 2005
Norwich Union is today launching a new "Protection Promise" forpolicyholders. The Protection Promise applies to both termassurance and mortgage life insurance and provides the followingbenefits 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 £1million, whichever is lower.
Norwich Union’s current offer of accidental death benefitbetween application and acceptance of term assurance policies willbe suspended for the period of this offer. However, current termsrelating to free life cover on mortgage life insurance productswill still apply.
The Protection Promise does not cover death by suicide,pre-existing conditions at the time of application or criticalillness claims.
Lawrence Jackson, head of risk products at Norwich Union, said:“The Protection Promise is a great development for ourcustomers and advisers. By placing customers ‘on risk’as soon as we receive an application we are giving them securityand peace of mind throughout the application process.”
Press office contacts:
Rob Pell 01904 452659 Out ofhours 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 aleading provider of life, pensions and investment products andone of the largest Financial Adviser (FA) providers. FAs provideover 70% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including CIS and The RoyalBank of Scotland Group. Norwich Union’s news releases anda selection of images are available from Aviva's internet presscentre at www.aviva.com/media.
* The Protection Promise will be introduced immediately and willbe reviewed on a regular basis.
* The Protection Promise can be withdrawn at anytime.