Axa speeds up application process

The limits are now £1m for life cover and £500,000 for critical illness and life, or earlier critical illness cover. Customers applying under these limits will not be automatically required to provide financial evidence, such as proof of earnings or loan agreement letters, says the firm. For business protection, it will also no longer need to see company accounts for key person, shareholder/partner and business loan protection life cover up to £5m as well as critical illness cover up to £1m. Mike Taylor, chief underwriter at Axa, says the new limits reflect the larger sums assured bei...