Axa has increased its financial underwriting limits for personal and business protection in order to make the application process easier and faster for customers.
The limits are now £1m for life cover and £500,000 for critical illness and life, or earlier critical illness cover . According to the firm, it will not be compulsory for customers applying under these limits to automatically provide financial evidence, such as proof of earnings or loan agreement letters.
Also, for business protection, Axa will no longer need to see company accounts for key person, shareholder/partner and business loan protection life cover up to £5m as well as critical illness cover up to £1m.
Mike Taylor, chief underwriter at Axa, said: "Customers will benefit from not having to search out financial evidence such as P60s or wage slips. Advisers will also benefit by having to fill in fewer forms and being able to spend less time on applications."
Axa increases underwriting limits and speeds up application process
Financial Services > Income lnsurance > News
Axa increases underwriting limits and speeds up application process
Wed, 05 Nov 2008
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