Royal London adds 'innovative' Underwrite Later option

Royal London has added an Underwrite Later option for life cover on its Business menu and relevant life plans, which will allow cover to be offered while medical evidence is being obtained. The option will be available straight away for life cover plans up to £3.5m while Royal London requests medical evidence and completes the underwriting assessment. The plans can stay in force for up to six months while evidence remains outstanding. According to Royal London protection specialist Jennifer Gilchrist, business protection has an average straight-through processing rate of around 50%...