|Insurance update by Tracey
This is an article published on the Partners Life website on 2nd June under “News and Views” and explains how you can gain extra insurance cover without the hassle of form filling or a health assessment. All insurers offer options like this. Keep that in mind so when your insurance policy renewal rolls around each year, you can take advantage of these benefits and not miss out if they apply to your circumstances.
What are ‘Underwriting- Free Increases’?
Underwriting-free increases are a handy way to gain extra cover, without having to spend your valuable time filling out forms. They let your cover automatically increase, without having to go through the usual full medical and current health assessment.
So even if your health has taken a hit since you were last underwritten, you may still be able to get extra cover. And even if life is keeping you busy, your insurance has still got your back.
Let’s take a look at the three types of underwriting increases – Consumer Price Indexation (CPI), special events increase, and the future insurability option.