Cover now, Underwrite Later

Give your clients piece of mind faster, with cover from day one.

With our Underwrite Later option, we’ll place your client’s cover on risk for up to six months while we wait for the medical information we need to fully assess the application. No maximum age is applied.

This means your client’s cover starts immediately, so they’ll have peace of mind knowing they’re protected from day one.

What’s more, some ‘Immediate Cover’ options in the market automatically exclude things like pre-existing conditions, travel and hazardous pursuits. Underwrite Later doesn’t automatically exclude any of these things.

Underwrite Later is available for:

Product (Life cover) Min. sum assured Max. sum assured
Personal Menu Plan £1m £3.5m
Whole of Life Plan £500,000 £3.5m
Business Menu Plan No minimum £3.5m
Relevant Life Plan No minimum £3.5m

Five reasons to recommend Underwrite Later

  • Full cover, no extra exclusions - clients who start their cover through Underwrite Later are fully covered with no extra exclusions added as standard.
  • Save time. Gain more business - our underwriting process isn’t lengthy, so there’s more chance your clients will stay engaged, and less chance they’ll change their mind.
  • Get your commission paid straight away - choose to have your commission paid as soon as the cover starts - or spread the payments over the usual indemnity period (2-4 years) to reduce the risk of clawback.
  • Lock-in your client’s age – if your client’s birthday falls within the six month underwriting period, we’ll lock their age in so they’re premiums won’t increase. The means no increase in premiums for half birthdays - for single and joint life plans.
  • Lock-in your client’s health – we’ll lock in your client’s health at the date the cover starts (for single and joint life plans), so if their health changes during the six month underwriting period, their cover won’t be affected.

For more reasons to recommend Underwrite Later and to understand the application journey, download our sales aid.

Underwrite Later FAQs

No. The application still needs to be looked at by an underwriter before we can agree to start it. Although most applications will be eligible, some applications may be too risky to start without evidence due to particular health issues the client may have.

We will assess it as normal. We expect that in most cases there will be no change to the terms offered at outset but in some cases, customers may not have disclosed or been aware of all the relevant information. In these cases, we may have to change the terms of the plan. So, the more accurate the information on your original application, the more chance we have of getting the right decision first time.

Any change in terms will we backdated to the date the cover started. This ensures that all customers pay the same premiums, whether they use Underwrite Later or not. If we increase the premium, the arrears will be collected with the next premium. If we reduce the premium, the excess paid will be refunded straight away.    

Commission is paid as soon as the plan starts. If we then change the terms of the plan on completion of underwriting, additional commission may be paid or some may be clawed back. If an adviser is concerned about the small risk of a claw back, they have the option to start the plan on a non-indemnity commission basis. Once the underwriting is completed, they can change this back to indemnity terms in order to receive the rest of the commission as a lump sum.

We’ll complete underwriting with the information we can get before any claim is paid. For example, if we’d requested a GP report, we’ll wait for this before assessing the claim.  If we requested the client goes for a medical that they had not yet attended, then if suitable, we may request alternative evidence, such as a GP report instead.

Free cover is still available on all our plans and could apply if a plan has not started with Underwrite Later. However, Free Cover comes with some standard exclusions, including any pre-existing conditions your client may have. Underwrite Later has no standard exclusions, so the cover is comprehensive. Free Cover also has some further restrictions. The cover is limited to an amount of £1m and can only last for a maximum of 90 days. There is also a maximum age of 60. Underwrite Later has a maximum cover amount of £3.5 million, can stay on risk for up to six months whilst we underwrite and has no age restrictions.  

Yes. If you’re applying online Underwrite Later is integrated into the application journey and can be applied for with the click of a button. However, if you prefer to apply through a paper application, you can still choose Underwrite Later but there’s a separate form that must be downloaded and submitted along with the main application.

Yes. If the quote for your application was started on or after 21 January 2021 and then you decide you want to use the Underwrite Later option, you can get your client to read and agree to the terms and conditions on this form. The plan owner must email this to us using the email address they provided on the application. Alternatively they could sign and post it.