Industry practice requires consumers to advise on any changes to answers on their application form until their cover commences. L&G is the first insurer to abolish this requirement on its term assurance, whole of life, critical illness and income protection policies.
L&G claims and underwriting director Russell Whitworth says many people assume the disclosure process ends and cover begins once they have submitted their application form but this is not the case.
He says: “A customer is not covered until their policy starts and this could be months after they have completed the application form. We have taken the opportunity to bring our practice in line with the expectations of our customers and remove this ongoing responsibility to disclose information, which is often seen as a burden to them.”