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Article: NU aggregates 500,000 [pounds sterling] critical cover cap.(News)(Norwich Union)(Brief Article)
- Article from:
- Money Marketing
- Article date:
- February 5, 2004
- Author:
CopyrightCOPYRIGHT 2004 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Norwich Union is to extend its 500,000 [pounds sterling] cap on individual critical-illness cover to include other policies either with the company or with rivals.
From August last year, a 500,000 [pounds sterling] cap was put on individual CI applications which will be imposed on an aggregate basis from March, meaning that other policies are to be counted into the total cover offered.
Applications of more than 250,000 [pounds sterling] already have to go through financial underwriting but NU is changing applications forms so people have to make a declaration of existing cover.
There is also a cap of 250,000 [pounds sterling] imposed on ...