FRIENDS Provident has become the latest life insurer to announce lower rates for long-term savers. The group said it was cutting the final payouts on with-profits life and pension policies by an average of 6% - and warned of further reductions ahead. It said most regular bonus rates had been reduced - in some cases by up to 50% - and some final bonus payments were also cut. It is the third time in 12 months that Friends provident has cut its rates. | 
