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AEGON Scottish Equitable
AXA Sun Life
Bright Grey
Friends Provident
Legal & General
Liverpool Victoria
AXA Sun Life
Bright Grey
Friends Provident
Legal & General
Liverpool Victoria
Norwich Union
Prudential
Royal Liver Assurance
Scottish Provident
Scottish Widows
Standard Life
NEWS
AXA 'to scrap ongoing duty of disclosure'
27 November 2007 16:25:16
AXA may follow in Legal and General's footsteps and eliminate the ongoing duty of disclosure from its protection products, it has been claimed.
According to IFAonline.co.uk, the insurance provider would aim to make applications easier to complete by removing the requirement.
"We have not decided whether we definitely will be scrapping the ongoing duty of disclosure but it is something we are exploring," Graham Harvey, AXA's protection managing director, told the website.
"There is a drive across the industry to make things simpler and this is part of that; it is a possibility for us."
Since the beginning of last month, individuals seeking life cover, critical illness cover or income protection from Legal and General have not had to inform the firm of any change to their health or circumstances before a policy starts.
In abolishing the rule, the insurer sought to ensure that its existing and future customers do not need to worry that a future claim may be turned down because they failed to meet the policy requirement.
AXA also recently removed the need for automatic general practitioner report (GPR) limits as a response to feedback from financial advisers regarding the lengthy delays caused by obtaining them.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
Life insurance costs fall
10 July 2007 10:44:11
New research indicates that the average cost of life insurance premiums has dropped in recent months.
A study by Sainsbury's Bank surveyed 38 different customer profiles and found the price of premiums for over 70 per cent of risk profiles fell in the six months leading up to March this year.
However, life cover premiums for people aged 25 and under were found to have risen slightly in the same period.
There was surprising news for smokers, with the news that the average cost of UK life insurance for a smoker fell by two per cent in the period in question.
It is thought that many smokers could see a significant drop in their life insurance premiums if they manage to kick the habit in light of the recent smoking ban.
British women looking to purchase life insurance were also met with a two per cent average price drop for their premiums.
The overriding conclusion from the research was that consumers should shop around for their life cover, with massive price differences between providers.
The 25 per cent of companies with the most expensive premiums charged around 66 per cent more for their life cover than the 25 per cent who offered the best value life cover.
Income protection made easy
10 October 2007 15:16:16
Income protection provider Friends Provident is to provide a tele-interviewing service to speed up applications.
Linking up with information service MorganAsh to implement the procedure, the firm also aims to reduce applicants' non-disclosure of details with the telephone interviews.
Qualified and experienced nurses will undertake the interviews at an agreed time and place to suit the customer. If requested by Friends Provident they will contact applicants and ask questions, mainly about their medical histories.
"The new tele-interviewing service will speed up processing which will benefit advisers and it will enable us to gather more detailed information about the applicant's health," said Mark Jones, protection products and actuarial manager at Friends Provident.
"This will benefit the customer as it means we can make a more informed underwriting decision," he added.
The firm intends to use the new procedure for benefit levels from £100 to £800 per week, depending on the customer's age and occupation.
Legal and General recently removed the ongoing duty of disclosure "often seen as a burden" from its life insurance products, aiming to make it easier for people to get life insurance, critical illness cover or income protection.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice
27 November 2007 16:25:16
AXA may follow in Legal and General's footsteps and eliminate the ongoing duty of disclosure from its protection products, it has been claimed.
According to IFAonline.co.uk, the insurance provider would aim to make applications easier to complete by removing the requirement.
"We have not decided whether we definitely will be scrapping the ongoing duty of disclosure but it is something we are exploring," Graham Harvey, AXA's protection managing director, told the website.
"There is a drive across the industry to make things simpler and this is part of that; it is a possibility for us."
Since the beginning of last month, individuals seeking life cover, critical illness cover or income protection from Legal and General have not had to inform the firm of any change to their health or circumstances before a policy starts.
In abolishing the rule, the insurer sought to ensure that its existing and future customers do not need to worry that a future claim may be turned down because they failed to meet the policy requirement.
AXA also recently removed the need for automatic general practitioner report (GPR) limits as a response to feedback from financial advisers regarding the lengthy delays caused by obtaining them.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online
10 July 2007 10:44:11
New research indicates that the average cost of life insurance premiums has dropped in recent months.
A study by Sainsbury's Bank surveyed 38 different customer profiles and found the price of premiums for over 70 per cent of risk profiles fell in the six months leading up to March this year.
However, life cover premiums for people aged 25 and under were found to have risen slightly in the same period.
There was surprising news for smokers, with the news that the average cost of UK life insurance for a smoker fell by two per cent in the period in question.
It is thought that many smokers could see a significant drop in their life insurance premiums if they manage to kick the habit in light of the recent smoking ban.
British women looking to purchase life insurance were also met with a two per cent average price drop for their premiums.
The overriding conclusion from the research was that consumers should shop around for their life cover, with massive price differences between providers.
The 25 per cent of companies with the most expensive premiums charged around 66 per cent more for their life cover than the 25 per cent who offered the best value life cover.
10 October 2007 15:16:16
Income protection provider Friends Provident is to provide a tele-interviewing service to speed up applications.
Linking up with information service MorganAsh to implement the procedure, the firm also aims to reduce applicants' non-disclosure of details with the telephone interviews.
Qualified and experienced nurses will undertake the interviews at an agreed time and place to suit the customer. If requested by Friends Provident they will contact applicants and ask questions, mainly about their medical histories.
"The new tele-interviewing service will speed up processing which will benefit advisers and it will enable us to gather more detailed information about the applicant's health," said Mark Jones, protection products and actuarial manager at Friends Provident.
"This will benefit the customer as it means we can make a more informed underwriting decision," he added.
The firm intends to use the new procedure for benefit levels from £100 to £800 per week, depending on the customer's age and occupation.
Legal and General recently removed the ongoing duty of disclosure "often seen as a burden" from its life insurance products, aiming to make it easier for people to get life insurance, critical illness cover or income protection.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice