Legal & General has made changes to its life and
Legal & General raises medical evidence limits
Legal & General has made changes to its life and critical illness cover medical evidence limits.
The alterations are designed to reduce processing times for customers, with more underwriting decisions being made at the point of sale. This means customers should be able to get the cover they need confirmed more quickly.
Here are the main changes in the medical evidence limits:
- For life cover up to age 35 (next birthday - NB) the automatic medical evidence limit has increased to £750,001;
- For critical illness cover up to age 30NB the automatic medical evidence limit has increased to £450,001;
- A reduction in the number of blood tests and microscopic urinalyses required.
Russell Whitworth, underwriting and claims director at Legal & General Protection, says: "I am pleased that we have been able to make these changes. They allow us to further reduce the processing time for applications.
"We anticipate that around 6,000 extra cases a year will go through without the need for additional underwriting."
Legal & General recently released figures showing that it paid 93% of income protection benefit claims in 2010.
The firm said that of the 7% unpaid, 2% were declined for non-disclosure and 5% because the terms of the policy were not met by the claim.