Thursday, December 20, 2012

Effective 17 December, REAAL has adjusted the rates of the term life insurance. The adjustment is dictated by new legislation stipulating that, as per 21 December, no distinction shall be made on the basis of the insured person's gender.

On average, the new rates will be ten percent less than the old net rates. The premium reduction in the customer groups 'male' and 'two lives', both in the 30+ age group with a term up to 65 years, may amount to roughly 25 percent. In general, under the new legislation, the premiums for males will fall and those for females will rise slightly. A financial advisor can submit a request for a term life insurance online without a signature being required.

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