Legal & General improve medical evidence limits for Income Protection Benefit Plan.
12 January 2011
The changes, effective from 9th January, mean that fewer customers will need routine medical evidence as part of their application process allowing for quicker underwriting decisions, and more policies able to be put on risk automatically.
The changes include the following:-
- General Practitioners Reports (GPR’s) and Exercise Electrocardiagrams removed as a routine evidence requirement for Income Protection.
- Telemedical interviews introduced for all age ranges where routine evidence is required.
- Reduction in the number of age bands from five band s to three*.
Commenting on the new limits, Russell Whitworth, Underwriting and Claims Director for Legal & General said, “ I am delighted that we have agreed these new limits. We are continually reviewing and challenging our requirements in order to improve the process for customers. Telemedical interviewing or nurse screening examinations will give us the same results but more quickly than having to obtain a full GPR, so we have removed the need for a GPR from our Income Protection limits. This improves efficiency and speed of completion which is good news for both advisers and customers.”
Notes to editors
The information contained in this press release is intended solely for journalists and should not be relied upon to make any financial decisions.
*New medical evidence limits
The old ranges were:
- Up to 40
- 41- 45
- over 55
New Age ranges are as follows:
- Up to 40
- 41- 50
- 51 plus
Changes to type of requested medical evidence
1. Introduction of TMI and removal of GPR
TMI’s will be introduced as the first piece of routine evidence instead of a GPR. The TMI will focus on mental illness, musculoskeletal conditions and lifestyle, as these are the main reasons for IPB claims
2. Removal of Exercise Electrocardiograms.
For more information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
About Legal & General
Legal & General Group Plc.
One Coleman Street
Registered in England. Registered Number: 1417162.
Legal & General Group Plc is a holding company, subsidiary undertakings of which are fully authorised as appropriate under the Financial Services and Markets Act in respect of their investment activities in the UK.
© Legal & General Group Plc 2011