Aegon removes Covid-19 underwriting restrictions

The provider has now returned to its pre-pandemic maximum ratings for life cover taken out to age 65, and has increased the maximum ratings it will offer for life cover taken out to age 79.

Given the success of the UK Covid vaccination programme, Aegon also confirms that it will now consider more applications from higher risk customers, such as those with diabetes, higher BMI and respiratory conditions.

For a small number of clinically vulnerable customers, for example people who are on immunosuppressants or high-dose corticosteroids, Aegon is still taking a cautious approach, but can now consider them.

Aegon has also returned to its pre-pandemic underwriting levels for critical illness applications, removing all temporary coronavirus-related medical rating restrictions.

Helen Morris, head of underwriting and claims at Aegon, commented: “We’ve been actively monitoring and reviewing the impact of the pandemic as we’ve been keen to make sure that any changes returning us to our pre-pandemic underwriting approach would be permanent. The easing of lockdown restrictions, the acceleration in the UK vaccination programme and the fall in Covid-related mortality rates have been encouraging and given us confidence to remove the majority of our underwriting restrictions for life and critical illness cover.

“These changes will help more people get the financial protection they need, including those higher-risk individuals who might have been restricted in the last year.

“We’re continuing to closely monitor the situation, as we’re committed to returning to our full pre-pandemic underwriting approach as soon as possible.”