Aviva has made changes to the way it underwrites its income protection policy, resulting in over 95 per cent of customers now being underwritten on an own occupation basis.
The insurer says before the review of its IP policy, which began in October, around 80 per cent of occupations were underwritten on an own occupation basis.
A total of 221 occupations previously classed as higher risk, like surveyors, vets and journalists, have now been moved into a lower occupational class following the review, resulting in lower premiums.
Additionally, a further 21 occupational classes that had previously been declined are now covered, including roofers, tillers and scaffholders.
Aviva has also raised many of the non-medical limits on its IP policy so that applicants across all age ranges will receive a higher level of automatic cover without the need for a nurse screening or full medical examination, regardless of disclosure.
Chief medical underwriter Jon Parker says: “We have rigorously challenged the market’s classification of occupations and industries at certain prices and the particular definitions of incapacity, as the risks once associated with many occupations are no longer as high thanks to advances in technology and better workplace health and safety. As a result, we have significantly improved our terms and premiums for customers in line with the risk their occupations bring today, not 20 or 30 years ago.
“We are also pleased that the great majority of occupations will now be accepted on an own occupation basis, enabling customers who are unable to do their job through illness or injury to more readily and swiftly access the benefits and rehabilitation support they need.”