Aegon increases medical underwriting limits

Aegon has increased its medical underwriting limits for its life and critical illness (CI) protection proposition.

It has also replaced full doctor medical examinations with nurse screenings in a number of areas.

The sum assured limits for when only an application is required have been increased in the majority of age bands across life and critical illness protection.

For example, in the age band up to 35-years-old, routine medical evidence will not be required until the sum assured exceeds £750,000.

The limits before a doctor medical examination or nurse screening are required have also been significantly increased in all age bands across life and critical illness.

With the new limits here, someone up to 30 years old, a nurse screening is now not required until the sum assured exceeds £1,500,000 for life cover and £750,000 for CI.

Additionally, for a 50-year-old the sum assured could be as high as £600,000 for life and £350,000 for CI without requiring a nurse screening.

Full doctor medical examinations have been replaced with nurse screenings in a number of areas, which the insurer said, is better for customers, as all nurse screenings can be performed at a place convenient to the customer.

For ages up to 40 a doctor medical examination is now not required until the sum assured exceeds £3,500,000 for life assurance and £1,000,000 for CI.

Matt Rann, head of claims and underwriting at Aegon, explained that the new underwriting limits enabled decisions to be made without the added hassle and time lost while gathering evidence.

"We have worked to get to a position where less evidence is requested and therefore speeds up the process.

"Just as importantly where evidence is required the aim has been to provide the minimum of inconvenience to the customer," he added.