Norwich Union Life & Pensions recently reduced rates for its mortgage protection plans by an average of 20 per cent.

This product is included in the "pricepledge" guarantee which says that if a broker can find a better premium from another broker company, Norwich Union will match it.

Pricepledge applies to sums insured up to £500,000 inclusive for guaranteed level, convertible and mortgage protection cover. It is only offered by independent brokers.