LV= has changed its underwriting rules in order to increase the number of applications which receive an immediate online decision.
Products to be affected by the changes are life cover, critical illness and income protection applied for through LV=’s Flexible Protection Plan.
The firm is altering its online system to reduce medical evidence requests for applicants with hypertension and raised cholesterol, as well as reduce the number of exclusions for people with muscular back pain or strain.
LV= says it has also made it easier for advisers to get immediate decisions on applicants who have previously suffered benign lumps or cysts, kidney disorders, gynaecological conditions and ear disorders.
The changes were made after LV= reviewed data from previous applications and incorporated this data into its online quote engine to streamline the process for applicants with similar conditions.
Mark Jones, head of protection at LV=, says: “We have an in-house team dedicated to improving our underwriting system, making it even easier for IFAs to place business with us.
“The latest changes to our underwriting rules will mean that new business can be written faster and we can offer standard rates to more customers. We will continue to invest in our proposition to ensure we offer the best experience and service possible for advisers and their clients.”