Changes to your Income Security premiums
MAS is committed to providing consistent and fair value premiums for Members over time, which is why we are adjusting premiums for our Income Security policies.
Why the changes are needed
We regularly review our products to make sure they are suitable and continuing to protect what matters most to our Members now and for the future. These reviews consider the future costs of providing cover, economic indicators, and the financial requirements of the business.
What are we changing
We are increasing the base premium rates for all Income Security policies by 15%.
This change affects premium rates we use to calculate your policy premium. Your premium is also influenced by your age and any additional cover you may have added to your policy. This means the full premium you end up paying for the next year will differ from the percentage above.
When this change will take effect
We will introduce the new rates on 1 November 2021 for all new policies we issue. For existing policies, the new rates will apply to your policy on its first renewal after this date.
Your renewal notice contains your new total annual premium payable.
Does the insurance still meet your needs?
It's important to review your insurance regularly to make sure it continues to meet your needs.
If you would like to speak to an adviser about these changes, the ongoing affordability of your insurance, or for a general check-up on your insurance needs, please call us on 0800 800 627 or email email@example.com.
26 August 2021 – MAS's Annual General Meeting for 2021 was held online on 25 August.
Updated: 19 August 2021 - MAS will do whatever we can to support the mental, physical, emotional and financial wellbeing and resilience of our Members. Read more here.