Immediate cover is available for applications with a minimum sum assured of £100,000 and a maximum of £2m for term assurance and £1m for business critical illness cover.
The facility is designed to plug the gap for customers who are waiting to have their application accepted whilst they go through medical and financial underwriting.
Underwriting and Claims Director Russ Whitworth says the product provides “valuable peace of mind” for clients whilst they are being underwritten for a policy.
He says: “Applicants for business life insurance with an added critical illness plan are also covered if they get one of the listed critical illnesses before their policy starts. Immediate cover is especially useful for high net worth or business customers where the sums assured are often high and the underwriting more complex.”