Royal London has outlined a series of increases to its non-medical limits for life cover as well as to the type of medical evidence required.
The aim is to increase the speed in which Royal London can offer cover to customers and its straight through acceptance rates.
One of the main changes is to increase the sum assured at which Royal London first requires routine medical evidence. Royal London told Health & Protection the changes will mean around 1,500 customers per year will no longer require routine medical testing based on its current numbers.
For example, for customers aged 29 or under, the initial threshold for non-medical limits evidence has increased from £900,001 to £1,000,001.
The maximum amount of critical illness cover or life or critical illness cover available is £3,000,000, Royal London said, while the maximum yearly amount of income protection available is £250,000.
The changes have been implemented across all age bandings and the level of sum assured to age 60.
They have been introduced to a number of different types of cover and include; life cover (single life and joint life, first event), life cover (joint life, second event), critical illness cover, life or critical illness cover and income protection or key person income protection.
On the type of medical evidence requested at certain limits, Royal London has replaced longer paramedical examinations with shorter mini-screen examinations.
It has also replaced ECG requests with a simpler NT-proBNP blood test and has reduced the number of GP reports required.
Craig Paterson, chief underwriter at Royal London, (pictured) said: “We continue to focus on improving our customer journey to make it quicker and easier for customers to obtain cover in the shortest time possible.
“Our latest enhancements not only make life cover more accessible, but they will also reduce requests to general practitioners, helping to reduce the demand on the NHS.”
Full details of the changes and the tests relevant for each age group are available on the Royal London adviser site.
