Unum to cover all UK postcodes

Unum is to offer cover across all UK postcodes in a move designed to remove hotspots from the group life market.

The provider is also increasing its free cover limit to £1.25m, improving its pricing and streamlining its medical underwriting.

All non-standard terms, including ratings, exclusions and declines, will be removed for amounts up to the revised scheme FCL.

Unum says it has been able to offer cover across the entire UK following a review of terrorist risk associated with hotspots such as Canary Wharf and the City and an assessment of the actual cost of terrorist attacks such as 9/11.

The provider has also reduced the number of caveats applied to quotes in order to make the process easier. In future these will only relate to risk evaluation data and employer requests for non-standard terms. Unum says 90 per cent of applications can now proceed without further enquiries.

Paul Davies, Marketing and Business Development Director at Unum, says: “We are committed to stimulating market growth through the development of an attractive, relevant and affordable portfolio across the entire range of risk products.
“I am delighted to say that we’re now opening up cover nationwide to all UK postcodes. This is a significant opportunity for employers whose staff benefit commitments in particular locations were considered virtually uninsurable.”