Financial underwriting limits
at a glance
We will ask your client for additional financial information in certain circumstances. The tables below show what we will ask for depending on the amount of cover asked for. All figures below include any existing cover with Bright Grey, or other insurers.
| Up to £1,500,000 | No automatic evidence |
| £1,500,001 to £3,000,000 | Business financial questionnaire |
| £3,000,001
to £5,000,000 |
Business financial questionnaire countersigned by bank manager/accountant /solicitor and 3 years' reports and accounts.* |
| Over £5,000,000 |
The maximum amount of Life Cover available is £5,000,000 |
| The maximum sum assured is 20 times salary for clients aged up to 39, and 15 times salary for clients aged 40 and older. Salary can include P11D benefits and regular dividends paid in lieu of salary. |
| There are no financial underwriting requirements for this benefit in isolation up to £2,500,000. Cover in excess of £2,500,000 we will require proof of earnings. On more unusual cases we may occasionally need further information to establish earnings but no financial questionnaire is required. |
| Up to £750,000 | No automatic evidence |
| £750,001 to £1,000,000 | Business financial questionnaire |
| Over £1,000,000 |
The maximum amount of Critical Illness Cover and Life or Critical Illness Cover available is £1,000,000 |
Employed applicants
| Up
to £75,000 |
Completion of Section H of the Business Protection Menu application form |
| £75,001
to £100,000 |
Financial questionnaire or 2 years' proof of earnings (P60, P11D forms, tax assessments, pay slips etc.) |
| £100,001 to £150,000 |
Financial questionnaire signed by an independent third party (accountant, solicitor etc.) or 2 years' proof of earnings (P60, P11D forms, tax assessments, pay slips etc.) |
| Over £150,000 |
The maximum amount of Income Cover for Sickness available is £150,000 |
Self-employed applicants
| Up
to £75,000 |
Completion of Section H of the Business Protection Menu application form |
| £75,001 to £100,000 |
Financial questionnaire or 2 years' proof of earnings (self-assessment forms or reports and accounts) |
| £100,001 to £150,000 |
Financial questionnaire signed by an independent third party (accountant, solicitor etc.) or 2 years' proof of earnings (self-assessment forms or reports and accounts) |
| Over £150,000 |
The maximum amount of Income Cover for Sickness available is £150,000 |
| Up
to £75,000 |
Completion of Section H of the Business Protection Menu application form |
| £75,001 to £100,000 |
Completion of Section H of the Business Protection Menu application form and 2 years' proof of earnings (P60 for employed people and self-assessment forms or accounts for self-employed people) |
| £100,001 to £250,000 |
Completion of Section H of the Business Protection Menu application form, 2 years' proof of earnings (P60 for employed people and self-assessment forms or accounts for self-employed people), 3 years' reports and accounts and service agreement/CV (if available) |
| Over £250,000 |
The maximum amount of Income Cover for Sickness available is £250,000 |
We might need further information from your client
Download our 'business protection financial questionnaire'
We’ll need your clients to complete this questionnaire if we require further details of their circumstances.
If you have any questions about why this is,
just call 0845 6094 505 or email: theunderwriters@brightgrey.com
