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increase in redundancy protection premiums


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Can any one advise?

Ive had redundancy/life protection with Prudential for 4 years paying about £60/month. They have writen to say the terms are changing - that will allow them to increase the premiums by a reasonable ammount if the association of insurers believes the cost of providing it has increased(there are other new reasons for increasing as well)

 

they say I have to accept the changes or cancel the insurance

 

Is this allowed?

 

Tony

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