AXA abolishes GP report limits
Insurance provider AXA has abolished automatic general practitioner report (GPR) limits for life insurance and critical illness customers under the age of 45.
Marking the firm’s response to feedback from financial advisers regarding the lengthy delays caused by obtaining the reports, automatic GPR limits for under-45s’ income protection applications will also increase to £50,000.
The insurer has outlined its aim to make greater use of nurse screenings or blood tests, which are on average two weeks quicker than a GPR.
"Our market-leading tele-underwriting process means the need for GPRs is significantly reduced and in the light of lengthy delays and spiralling costs of GPRs we’ve decided to break away from their automatic use for younger ages," confirmed Mike Taylor, chief underwriter at AXA.
"For younger lives, especially those who do not have any medical problems, a screening provides an underwriter with a better view of their health including build, habits and blood pressure," he added.
AXA has emphasised that this also provides a second opportunity for customers to reveal any medical information, further reducing non-disclosure.
Fellow provider Legal and General recently made all its life insurance products exempt from the ongoing duty of disclosure the company said was "often seen as a burden."
The Insurance Helpline specialises in obtaining cover for people living with medical conditions
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