A price war could be brewing in the
UK’s high net worth (HNW) protection market following Legal &
General’s (L&G) announcement it is now guaranteeing to match
like-for-like competitor quotes for HNW business.
“We are so confident in the strength of our
service that we want to level the playing field on price and be
judged on our proposition alone,” said Bonnie Burns, L&G’s
director, product and technical.
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Burns continued: “With dedicated support from
our high net worth teams, fast and efficient case processing, and
the backing of one of the largest underwriting teams in the UK,
advisers will be hard pressed to look elsewhere for their high net
worth business.”
L&G’s price match guarantee applies
to level and decreasing term assurance, with or without critical
illness cover and for sums assured of between £600,000 ($900,000)
and £5m for life cover or £350,000 to £1m (personal) or £2m.
