Income Protection 

Holloway strips out permanent exclusions

Holloway strips out permanent exclusions

Holloway Friendly has removed all standard permanent exclusions on its full benefit income protection product, as part of a widening of its online underwriting process

The society stated that many existing conditions that customers suffer from can be temporary, but are not treated as such.

“That could be an unfair outcome for customers and/or claimants,” said Mike Taylor, member services director at Holloway Friendly.

He added that the society had widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.

“Advisers can apply for both full term and short term income protection on behalf of their customers in a fraction of the time versus paper applications and ‘big T’ tele-interviews,” he said.

Alan Lakey, protection specialist at CIExpert, said the decision to remove standard permanent exclusions was good news for advisers in the protection market.

He said: “Income protection underwriting has always been a contentious issue because it sometimes seems that exclusions are added in without any real thought, almost an automatic knee-jerk reaction.

"Having these considered and removed only where appropriate is a big step forward.

“Having online underwriting is also a step forward as it will speed up many applications, which is good news for applicants who frequently fail to understand why these applications suffer such delays.”

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