UK Money News
11th February 2008
LifeSearch and Axa launch new life insurance policy
A new insurance policy is to be trialled which it is claimed is guaranteed to pay out on its holder's death, irrespective of information that may have been withheld.
The policy has been developed by protection specialists LifeSearch in conjunction with Axa and will be available for a limited period over the next few months.
According to Axa, the beneficiaries will be guaranteed a payout provided the claim is submitted within two years of the holder's death.
The payout is not at risk of being jeopardised by non-disclosure on the part of the holder, since they will be underwritten as the outset, instead of the claim stage.
Matt Morris, policy adviser at LifeSearch, said the policy will offer people greater peace of mind than existing life insurance policies.
He explained: "One of the problems with protection insurance is the worry that it might not pay out due to non-disclosure. This product removes any possibility of a claim being declined for this reason.
"Consumers need to know that if the worst should happen there will be money to pay off their mortgage or look after their family."
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