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LV= removes underwriting restrictions for chronic medical conditions

Jake Carter

April 26, 2021

metlife drastic change protection

LV= has removed underwriting restrictions for those living with chronic medical conditions.

These conditions include severe respiratory conditions, heart and lung diseases, and cancer.

Chronic conditions have proven more difficult to underwrite during the pandemic because people with these conditions were considered more vulnerable to the effects of COVID-19.

As a result of the lowered risk that COVID-19 now presents and its principled approach to the pandemic, LV= is now able to offer life insurance for customers with these conditions.

In reviewing its underwriting philosophy, LV= will also offer cover at point of sale for controlled type 1 or type 2 diabetics, without the need for further medical evidence

Debbie Kennedy, director of protection at LV=, said: “The COVID-19 pandemic has been devastating. Not only have people been affected directly by the virus, the increased risk to people with chronic conditions has made it much harder to access life assurance.

“This problem has affected all insurers and meant that people with these conditions have had their life insurance applications postponed, due to challenges with complex underwriting and securing medical evidence during this difficult time.

“However, I’m delighted that as the insurance risk posed by coronavirus recedes, our flexible and speedy approach to underwriting means LV= will be the first in the mainstream market to underwrite life insurance applicants with chronic medical conditions.

“It is important that we continuously review the data and risks and be prepared to change our approach when the evidence supports this.

“While we expect that will allow us to offer cover for an additional 2% of LV= life insurance applicants, it represents an important milestone as the industry continues to step up and respond to the challenges presented by COVID-19.

“In addition, the change to our philosophy for diabetes will mean that we’re likely to accept over 50% of diabetic cases at point of sale, providing they have controlled blood sugars, no complications and no other adverse cardiovascular risk.”


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