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Article: Standard Life ups critical illness costs.(Brief Article)
- Article from:
- Financial Advisor
- Article date:
- January 30, 2003
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STANDARD Life is to increase its critical illness premiums by an average of 50 per cent on future business.
The life assurer put this down to "substantial progress in diagnostic medicine in recent years".
Gerry Warner, marketing development manager of Standard Life, said the changes would not affect current policies. He said: "Advances in diagnostic techniques and changes in screening are leading to more effective and earlier detection of medical conditions."
He said these changes made it "increasingly difficult" to predict future levels of claims. The life office said this followed price reductions over the past three years.
For term and critical illness, the ...