Article: NU to put up critical illness premiums by up to 60 per cent

NORWICH Union will tomorrow announce that it is increasing premiums on its critical illness policies by up to 60 per cent.

The UK's largest insurer blamed "uncertainty surrounding future claims costs".

Advances in medical science mean that many of the conditions covered by CI policies are now being detected much earlier, leading to a significant rise in claims costs.

Keith Simm, protection and mortgage marketing manager, said the average price rise would be 40 per cent, but older customers and those with higher-value policies would see much bigger increases.

Critical illness insurance pays a lump sum to policyholders who have developed a serious condition, such as a heart attack, cancer or ...

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