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Unumprovident introduces new IP application procedure

Unumprovident has enhanced its risk management processes aimed at creating an easier application procedure for its income protection products.
Changes include no longer automatically linking requests for medical evidence to the amount of income protection requested, instead evidence will only be required where the application disclosure requires it.
The provider says it expects this approach to significantly reduce the amount of time it takes to get cover in place.
Unumprovident chief medical underwriter Andrew Potterton says: “Our own analysis has shown that medical evidence adds little to our knowledge of the risk if we have good application disclosure. We believe the person whose life is to be insured is best placed to tell us about themselves and their medical history, providing we ask the right questions.”


First profit for Lighthouse

Lighthouse Group has unveiled its first profit in its half-year results to June 30. It made a profit of £112,000 compared with a £142,000 loss in the same period last year. Turnover rose by 36 per cent to £20.5m.

Long and the short of it

Uncertainty over interest rates is causing volatility in the market but future prospects look promising

Season of mists

This time of year has a habit of being difficult for investors. In recent years, we have had the aftermath of September 11, the Russian sovereign debt default and ensuing LTCM collapse of August/September 1998 and the 1997 Asia crisis – not to mention Black Monday in October 1987 and the Wall Street Crash of […]

GMAC is first off blocks with Pos offer

GMAC has stolen a march on its rivals by becoming the first lender to give a point of sale offer. The lender launched its new system, Poso, on Monday, and several brokers, including John Charcol, say the service will speed up the mortgage application pro- cess significantly. GMAC beat rival Edeus, which had hoped to […]


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