The Exeter is withdrawing its Managed Life product leaving only its Real Life plan for all customers with complex or multiple health conditions.
Its Managed Life product for customers with Type 2 diabetes or a high body mass index (BMI), which offered variable premiums based on the management of their health, will no longer be available from 30 September.
The insurer said the change was in response to adviser feedback with customers saying they preferred the certainty and simplicity of guaranteed premiums.
It also follows improvements made in 2020 to the quote and application process for the Real Life product which the insurers said makes it easier for advisers to navigate and provide a better experience for those customers who have been traditionally viewed by the wider industry as “hard to insure”.
Steve Bryan, director of distribution and marketing at The Exeter, (pictured) said after talking to advisers and examining customer outcomes of the two products, for people with Type 2 diabetes or a high BMI they were largely interchangeable.
“By simplifying our product line and just offering one product to everyone with a complex medical history, we can focus on continually improving Real Life and our underwriting practices, ultimately widening access to insurance for an even greater number of customers,” he said.
