Protection Update - Issue 107

We make it quicker and easier to get applicants on risk

We are pleased to announce we have improved the age and sum assured limits. This is to help maintain our competitive market position and reduce processing times for Life and Critical Illness Cover applications.

New limits and changes

• Greater focus on Nurse Screening Examinations and fewer GP reports will be required. This will give greater control to the adviser or client because they can influence how quickly evidence is turned around. For example, under routine evidence limits:
  • For applicants aged up to 50 years old, our first piece of routine evidence will be a nurse screening examination rather than a GP report, depending on the sum assured.
  • Applicants up to 40 years old, for Life Cover we will not require a routine GP’s report unless the sum assured exceeds £1million.
  • For Critical Illness Cover up to age 40, routine evidence will not be required unless the sum assured exceeds £400,000, when we will require a nurse screening examination.
• We’ve reduced the number of age bands so it’s easier for advisers to identify what type of evidence is required at what age.
• We’ve significantly raised our limits for older lives and raised the HIV test for those aged 60+ to £2,000,001.
• When requesting blood we will obtain all types of blood test. This should reduce the need for further client testing because a full profile will be available to the underwriter. This should also reduce delays caused because further tests will not be required.

These changes only affect the automatic evidence requirements based on the sums assured and depending on the client’s disclosures we may require other evidence

The new changes come into effect immediately. The new limits will apply to applications underwritten from 21 June 2009, but will not be made retrospectively.

For more information please visit our underwriting and claims solutions site or speak to your usual Legal & General contact.