LifeSearch launches new kind of life insurance policy

Tue, 12 Feb 2008

A "unique" life insurance policy which promises to payout even if the holder does not disclose important health information when applying has been launched.

The life insurance product, offered by LifeSearch, will guarantee a full payment if a claim is made after two years, the company says.

Matt Morris, policy advisor at LifeSearch, said: "One of the problems with protection insurance is the worry that it might not pay out due to non-disclosure. This product removes any possibility of a claim being declined for this reason."

He added that the policy would offer peace of mind for anyone worried about paying their mortgage if the worst should happen.

The company is able to offer the life insurance policy as it is underwritten from the beginning, rather than at the claim stage, Mr Morris explained.

Recently, the Association of British Insurers announced that its members will pay more claims for Critical Illness, Income Protection and life insurance where medical information has not been disclosed.
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