Once and Done Underwriting Policy
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Irish Life is delighted to report on the success of our Once and Done underwriting policy to date. We were the first to introduce this to the Irish market in September 2010. The initiative has proven successful with over 200 lives underwritten for life cover over more than 50 schemes. Where accepted, all these scheme members can look forward to future benefits increases without need for any form of underwriting (up to jumbo levels of €6m).
Here is a reminder of the key features of Once and Done:
- It involves a person completing underwriting “once” and then they are “done” for life (up to very high limits).
- It applies to qualifying Corporate Business Group Life and Group Income Protection schemes (schemes with over 50 lives)
- It’s also known variously as “once only underwriting” and “one time only”.
As a result of once and done, many members now enjoy with Irish Life automatic cover increase on salary increments and additional peace of mind. In addition, the administrative burdens around underwriting are lessened for client, consultant and insurer.
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