Direct Line to the life market
Saturday 18 February 1995
The company is offering income protection plans for a range of options including life cover, disability and critical illness. Clients can choose between replacement income, payment of a lump sum or repayment of an outstanding debt.
Premiums for fixed-term cover of £50,000 over 15 years will be £8.88 a month for a 30-year-old male smoker, falling to £5.85 a month for a female non-smoker of the same age.
Mortgage protection cover of £50,000 over 15 years will cost £8.72 a month to a male non-smoker aged 40, or £6.34 to a woman of the same age.
Family income cover, providing a monthly income for a family of a person who dies, would cost a 40-year-old £14.13 a month over a 15-year term, providing income of £10,000 a year. The income would continue to be paid over the remainder of the policy's term after the policyholder's death.
Russell Devitt, chief executive of Direct Line Life, said it would be able to offer a cheaper deal on protection products than most other providers.
"It is time for change in the life industry. We intend to put customers first by giving them what they genuinely want - good rates, convenience, simplicity and choice, plus no commissions."
- 1 Tidal launch: The most pretentious lines from Alicia Keys' valedictory speech
- 2 Britain First 'acting like Ukip henchmen' by invading meeting of activists in revenge for pub protest against Nigel Farage
- 3 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 4 Tidal: Jay Z's Spotify rival streaming service criticised for making wealthy artists even richer
- 5 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
Britain First 'acting like Ukip henchmen' by invading meeting of activists in revenge for pub protest against Nigel Farage
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Turkey power cut: Prime Minister says nationwide blackout could be caused by terrorists
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...