Recently rebranded Ageas Protect has launched ‘Low Start', a personal protection product offering the same cover as its YourLife Plan at a lower initial cost.
In future years premiums gradually increase at a rate guaranteed for the entire period of the cover.
This latest protection solution enables customers who may believe they can't afford the protection they need to have more comprehensive cover at a cost that better suits their budget.
Customers can choose from Low Start Term Assurance, or Low Start Critical Illness with Term Assurance, both of which also qualify for Ageas's multi product discounts scheme.
Martin Werth, Managing Director of Ageas Protect commented: "In the current economic climate effective protection has become even more important, but customers' budgets are being squeezed.
"As well as being a solution in the current economic climate it could also suit the large number of customers who buy protection just as they have the additional financial commitments associated with moving house or having a new baby.
"Low Start premiums are as transparent and certain as level annual premiums and, together with YourLife Plan, ensure our distribution partners can offer the right protection solution for each customer, whatever their budget."
For a 35 year old male non-smoker taking out £150,000 of cover over a 15 year term, Low Start Term Assurance would cost an initial premium of £6.83 per month compared to the YourLife Plan premium of £10.17. Low Start Critical Illness with Term Assurance would cost £22.50 per month initially in comparison to the YourLife Plan premium of £35.11.
