FOR ADVISERS ONLY

Financial underwriting limits

We will ask your client for additional financial information in certain circumstances.

Use this simple tool to reveal what evidence we need to see depending on the amount of cover asked for. All figures below include any existing cover with Royal London, or other insurers.

Limits	Financial evidence requirements
<=£2,000,000	Application form, additional financial information is not usually required
£2,000,001 to £3,500,000	Financial evidence, usually in the form of a Financial Questionnaire
>£3,500,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£800,000	Application form, additional financial information is not usually required
£800,001 to £1,500,000	Financial evidence, usually in the form of a Financial Questionnaire
£1,500,001 to £3,000,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£800,000	Application form, additional financial information is not usually required
£800,001 to £1,500,000	Financial evidence, usually in the form of a Financial Questionnaire
£1,500,001 to £3,000,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£250,000pa	Application form, additional financial information is not usually required

Limits	Financial evidence requirements
<=£2,000,000	Application form, additional financial information is not usually required
£2,000,001 to £3,500,000	Financial evidence, usually in the form of a Financial Questionnaire
>£3,500,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£2,000,000	Application form, additional financial information is not usually required
£2,000,001 to £3,500,000	Financial evidence, usually in the form of a Financial Questionnaire
>£3,500,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£800,000	Application form, additional financial information is not usually required
£800,001 to £1,500,000	Financial evidence, usually in the form of a Financial Questionnaire
£1,500,001 to £3,000,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£800,000	Application form, additional financial information is not usually required
£800,001 to £1,500,000	Financial evidence, usually in the form of a Financial Questionnaire
£1,500,001 to £3,000,000	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£75,000 pa	Application form, additional financial information is not usually required
£75,001 pa to £100,000 pa	Financial evidence, usually in the form of a Financial Questionnaire
£100,001 pa to £250,000 pa	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£75,000 pa	Application form, additional financial information is not usually required
£75,001 pa to £100,000 pa	Financial evidence, usually in the form of a Financial Questionnaire
£100,001 pa to £250,000 pa	Corroborative evidence (see table below)

Limits	Financial evidence requirements
<=£3,500,000	Application form, additional financial information is not usually required
>£3,500,000	Corroborative evidence (see table below)

Corroborative evidence (minimum requirements) table

Family Protection	Evidence of income from employer or accountant (P60 or equivalent)
Inheritance Tax	Accountant's or solicitor's letter to confirm the value of the estate
Loan or Mortgage Cover	Copy of offer letter or loan/mortgage agreement. Additionally for a business loan, audited accounts covering the last 3 years.
Key Person Cover	Audited accounts covering the last 3 years Proof of income (P60 or equivalent)
Partnership or Shareholder Protection	Audited accounts covering the last 3 years Sight of the partnership or share purchase agreement.
Business related Income Protection	Employed - Latest P60 or last 3 payslips Self Employed - 2 years' proof of earnings e.g. salary or earned income confirmed by HMRC Additionally for Key Person IP, we will also require audited accounts covering the last 3 years
Relevant Life Plan	Evidence of income from employer or accountant (P60 or equivalent)

Last updated: 09 May 2016

Financial underwriting limits

Life Cover

Critical Illness Cover

Life or Critical Illness Cover

Income Protection

IHT Mitigation

Life Cover

Critical Illness Cover

Life or Critical Illness Cover

Income Protection

Key Person Income Protection

Relevant Life Plan

Corroborative evidence (minimum requirements) table