Legal & General is keen to dispel the myth that a high percentage of people get rated before their policy goes on risk. It is often thought that a high percentage, at least one in four, get rated before the policy can be put on risk.
Legal & General is keen to dispel this myth and stress that the reality is far lower at only 12% of clients. The online quote and apply system has sophisticated risk assessment functionality, so an increasing number are accepted straight away without the need for additional evidence. For example, anyone with asthma can receive an underwriting decision based solely on the information given via interactive underwriting rules at the point of sale, which saves time and inconvenience.
Russell Whitworth of Legal & General says, "Our aim is to offer cover to as many people as possible on the appropriate terms based on our assessment of risk factors. This philosophy is applied across all our applications ensuring they receive a decision at the earliest point possible."