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Partners Life premium changes announced

Partners Life have announced they are making changes to premiums for Mortgage Repayment and Household Expenses effective 1 October 2019. The quote software will allow you to quote the new rates from the 10th of September by ticking a box and new rates will be automatically quoted from the 24th of September.

The announcements stated:

Partners Life has recently completed a deep dive analysis of emerging claims trends across all product lines. One of the trends we have identified is that our Mortgage Repayment and Household Expenses claims experience is closely aligned with our Agreed Value Income Cover experience, despite being priced significantly lower.

As a result of this analysis, we have decided to bring the pricing of these two benefits into line with our Agreed Value Income Cover pricing, which will result in a 15% increase in underlying premium rates for Mortgage Repayment and Household Expenses benefits.

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