Richard Dallas, group marketing director at Aegon UK, said the increases to its routine medical and financial limits will save time and reduce inconvenience for advisers and customers alike.
He said: “This is especially true for business protection customers and those applying for larger sums assured.
“We’ve recently announced our intention to grow our protection business to help close the UK protection gaps. Key to this will be our support of intermediaries and this latest innovation announced by our underwriting team is most welcome. It’s fantastic to see our protection proposition developing and I look forward to this continuing when John Wilkinson joins us next month as protection director.”
The sum assured limits for when an application only is required have been increased across life and critical illness protection.
Customers will no longer have to provide as much financial evidence for sums assured of up to £1.5m for life protection or £850,000 for CI protection.
Business protection customers will benefit from increased limits on their immediate cover facility on sums assured of up to £3.5m for life and up to £1.5m for CI protection.
The non-medical limits for routine exercise ECGs have also been significantly increased across both business and personal protection.
This means less customers will be asked to have an exercise ECG test resulting in protection cover being put in place quicker and with less hassle.