At LV= we believe everyone should be supported if they’re ill and can’t work, through quality financial protection that pays out when it matters. So we’ve developed a straightforward underwriting philosophy to help you write IP faster, whilst managing your client’s expectations.

Five ways our underwriting can help you write IP faster

No automatic requirements for GP reports (based on the amount of cover)

GP reports are used by providers to help assess clients and their health risk, but can substantially lengthen the application process. At LV=, we have no automatic requirements for GP reports based on the amount of cover your clients are applying for, helping you protect them faster. In fact, we currently need a full GP report for less than 5% of our IP applications.

Pre-sales underwriting and support

If your client has a health issue that might affect their cover, you can speak to our underwriters before submitting the case. They can give you an instant decision on any loadings or exclusions and if we can offer cover, helping you manage your client’s expectations and protect your recommendation.
Our underwriting guide explains how common medical conditions or hobbies might affect your client’s cover. And our medical underwriting limits summary explains what medical information we need to underwrite the application, depending on your client’s age and amount of cover.

You can speak to our underwriters on
0800 678 1893
or email them at preunderwriting@lv.com

Loadings
A loading is a percentage increase on your client’s monthly premium. Providers might load the premium if your client has a pre-existing health condition, which could increase the risk of them making a claim. At LV=, we will base any loadings on our lowest risk occupation class, even if your client works in a high risk job, like a roofer.

Four hour initial underwriting

If your client’s case is referred to underwriting, we aim to confirm if it’s been accepted or that we need medical evidence within four hours. Please note, this applies within our normal business hours (9.00am-5.00pm).

Exclusion review period
If your client has a pre-existing condition, we’ll look to apply an exclusion for a limited period only (typically one or two years) and then remove it if they suffer no further symptoms or need additional treatment. We think this is a fairer alternative to offering cover with the exclusion (even a common claimed for condition like back pain or mental illness) being in place for the full term of the policy.
To find out more about LV= income protection, our underwriting, or if you need help with training, please contact me on the details below.