Legal & General aims to provide "fairer" life policies
www.moneynews.co.uk > Insurance > Legal & General aims to provide "fairer" life policies
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Legal & General aims to provide "fairer" life policies
Mon 12th Oct 2009
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Russ Whitworth, underwriting and claims director for protection, commented that when a couple take out a joint policy, the surviving partner will be left with no cover if the person who died showed any signs of reckless or deliberate non-disclosure.
He stressed that it was rare that the organisation was forced to do this, but that it does happen.
In order to resolve this issue, Legal & General is now offering a single life policy to surviving partners at the same price as it would have been had they taken one out originally, rather than a joint policy.
Mr Whitworth added: "We think that it is fairer to set up a single policy and then only charge them the premium that they would have paid at the time."
The organisation has also recently announced that it currently makes immediate decisions on nine out of ten of applications made to them for insurance cover, through its 'little t' underwriting team.
Click here for more insurance news
Related News : Insurance |
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Related News : Legal and General |
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