AEGON has announced further improvements in the financial underwriting limits for its personal and mortgage protection proposition by increasing the sums assured at which the main residence mortgage offer letter is required for life and critical illness cover.1
The sum assured limit for when a personal financial questionnaire is required has increased to over £750,000 for critical illness protection.
In August, AEGON announced improvements to its financial underwriting limits for its business protection offering by increasing the sums assured at which the business loan offer letter and company accounts are requested. At the time, AEGON also increased its immediate cover facility for life cover from over £2.5m to over £3m, making it the highest in the market.
The latest improvements also make the financial underwriting limits for life and critical illness policies before routinely requesting the main residence mortgage offer letter the highest in the market, ensuring AEGON remains a leading provider of personal and mortgage protection and business protection cases.
Matt Rann, Head of Underwriting and Claims, AEGON UK says:
“These recent improvements to our personal and mortgage protection offering allow us to maintain our position as a leading provider in this market. These changes enable us to make decisions based on fewer pieces of evidence, helping to ensure the whole process is turned around as quickly as possible. This benefits both the financial adviser and their customer.”
Hightlights :
- Increased limits making the process of financial underwriting easier for advisers and their clients
- Main residence mortgage offer letter now only required for policies over £3.5m for life cover and over £1.5m for critical illness cover
- Personal financial questionnaire now only required for policies over £750k for critical illness cover
