Legal & General has abolished the requirement for customers to notify it of any change to their health or circumstances before their policy starts.
The provider previously required customers to inform it of changes to answers on policy application forms until their cover commenced as an ongoing duty of disclosure. The change applies to all of the provider’s individual life insurance products, including term assurance, whole of life, critical illness and income protection. Russell Whitworth, claims and underwriting director at Legal & General, says: “In our experience, many people wrongly assume that the disclosure process ends once they have completed the application form. They believe that effectively they are covered once they ha...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes