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Financial limits


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Personal protection

Life Cover

Sum assured Evidence required
Up to £1,500,000 Application only
£1,500,001 to £3,000,000 Financial questionnaire signed by the client
Over £3,000,000 Financial questionnaire signed by the client and third party evidence
Underwriting requirements are based on the aggregate sum assured (i.e. including sums assured under existing policies).

Serious Illness Cover

Sum assured Evidence required
Up to £500,000 Application only
£500,001 to £1,000,000 Financial questionnaire
£1,000,001 - £2,000,000 Financial questionnaire and third party verification
£2,000,001 - £3,000,000 Financial questionnaire and third party verification plus other relevant documentation if applicable
Underwriting requirements are based on the aggregate sum assured (i.e. including existing cover with all companies as well as the new application with VitalityLife).

Income Protection and Level 3 Disability Cover

Sum assured Evidence required
Up to £60,000 pa (in the market place) Application only
Over £60,000 pa (in the market place)
  • Financial questionnaire signed by client
  • Employed – three most recent payslips and most recent P60*
  • Self-employed – three most recent HMRC agreed tax computations and self-assessments, and accounts relating to these where available*
  • Directors of limited companies – three years’ payslips, P60s, company accounts and confirmation of the number of employees* 
*The above evidence will also be required for underwriting income guarantee
Where financial evidence and income verification is requested due to the benefit level, we will not need further evidence of your earnings at claims stage. Underwriting requirements are based on the aggregate sum assured (i.e. including sums assured under existing policies in the entire market). Calculation of financial limit for level 3 Disability Cover = 2.5% of value of Disability Cover times by three.

Business protection

Key Person Protection

Sum assured Evidence required
Up to £1,500,000 Application form only.
£1,500,001 to £3,000,000 The financial questions included in the application form, with the relevant sections completed in full (including profit/loss figures).
£3,000,001 and above Supporting evidence required in the form of reports and accounts (past three years).
New start-up companies/companies making a loss Supporting evidence may be requested, such as a business plan with projections or reports and accounts. Additional information may be requested regardless of the sum assured.

Shareholder or Partnership Protection

Sum assured Evidence required
Up to £1,500,000 Application form only.
£1,500,001 to £3,000,000 The financial questions included in the application form with the relevant sections completed in full (including profit/loss figures and valuations).
£3,000,001 and above Supporting evidence required in the form of reports and accounts (past three years) or an independent valuation by a professional source.
New start-up companies/companies making a loss Supporting evidence may be requested, such as a business plan with projections or reports and accounts. Additional information may be requested regardless of the sum assured.

Business Loan Protection

Sum assured Evidence required
Up to £1,500,000 Application form only.
£1,500,001 to £3,000,000 The financial questions included in the application form with the relevant sections completed in full (including full details of loan and business figures).
£3,000,001 and above Supporting evidence required (copy of loan agreement and repayment schedule form, reports and accounts).
 New start-up companies/companies making a loss Supporting evidence may be requested, such as a business plan with projections or reports and accounts. Additional information may be requested regardless of the sum assured.

Disability Cover for Business

Sum assured Evidence required
Up to £1,000,000 Application form only.
£1,000,001 to £2,000,000 The financial questions included in the application form with the relevant sections completed in full.
£2,000,001 and above Supporting evidence required in the form of reports and accounts (past three years).
New start-up companies/companies making a loss Supporting evidence may be requested, such as a business plan with projections or reports and accounts. Additional information may be requested regardless of the sum assured.
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