Axa has abandoned plans to launch a life insurance product that guarantees to pay claims in full even if the policyholder has not fully disclosed.
AXA has written a non-contestability option into its life cover policies to test demand among consumers.
Introducing a non-contestability period into life insurance contracts is unlikely to result in consumers taking less care over disclosing information, says a Court of Appeal judge.
Introducing a non-contestability period into life and critical illness insurance policies will encourage preferred life underwriting and favour the healthy and wealthy, says Jon Briggs, protection research manager at Hargreaves Lansdown.
The Law Commission's proposals to introduce a non-contestability clause into life insurance and critical illness policies is likely to lead to a cross-subsidy in favour of "liars", warns Jon Briggs, protection research manager at Hargreaves Lansdown....
The Law Commission's proposal to introduce a non-contestability period into protection policies will cause insurers to be more selective about which clients they put on their books, according to speakers at an RGA life insurance conference.
By now most people are aware of the Law Commission's consultation on the subject of non-disclosure. If you're not aware of this you can download the consultation paper from their website.