Axa abandons non-contestability move

Graham Harvey, managing director, protection, says consumer appetite for a term life policy with an in-built two year non-contestability option was lacking. The insurer was piloting the option, which comes as standard in the US, with broker LifeSearch and, if successful, planned a nationwide roll-out this year. It guaranteed full payment on death after a two-year period even if the policyholder had not disclosed important health information on their application form. "We haven't found it to be successful really," Harvey says. "We tried it out but the truth is we found it difficult to ...