AXA insurance protection increased

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AXA insurance protection increased

AXA insurance underwriting limits have been increased, the provider has announced.

There are now new, larger limits for cover for life and critical illness.

The life cover limit has been increased to £1 million and a new limit of £500,000 is now set for critical illness and life or earlier critical illness cover.

Applicants for personal cover under the new limits must provide financial evidence such as loan agreement documents or proof of earnings.

AXA no longer automatically requires company accounts for key person, shareholder/partner and business loan protection life cover up to £5 million and critical illness cover of up to £1 million.

Mike Taylor, chief underwriter, said the new financial underwriting limits "reflect the larger sums assured that are being requested by both personal and business customers".

Earlier this month, AXA reported the results of new research it had undertaken which showed that women's life insurance was not keeping up with their employment levels.

While the number of women of working age is set to exceed that of men in 2018, eight million female workers in Britain have no life insurance and could suffer heavy financial blows if they have health complaints.

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