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 of the figures below include any existing cover with Bright Grey, or other insurers.
Financial questionnaire
We will need your clients to complete a copy if we require further details of their financial circumstances.
Download 'personal financial questionnaire' PDF
Size: A4 - 4 pages - 74kb
Online publication date: Jul 09
| Life Cover | |
|---|---|
| Up to £1,500,000 | No automatic evidence |
| £1,500,001 to £2,000,000 | Financial questionnaire + copy of loan offer for loan protection.* |
| £2,000,001 to £5,000,000 | Financial questionnaire + copy of loan offer for loan protection.** |
| Over £5,000,000 | The maximum amount of Life Cover available is £5,000,000 |
- the maximum amount of Life Cover available is £5,000,000
* Depending on the lender it may be possible to allow up to £2,000,000 Life Cover without a copy of the full and final loan offer. Please contact us for more details.
** If Personal cover – independent verifiable proof of income (P60’s
for employed people and for self employed people notice of assessment, 3 years
reports and accounts etc).
If Mortgage/loan cover – copy of final loan offer.
If Inheritance tax – Independent 3rd party verification of the tax liability
and how it was calculated.
| Critical Illness Cover and Life or Critical Illness Cover |
|
|---|---|
| Up to £400,000 | No automatic evidence |
| £400,001 to £700,000 | Financial questionnaire + copy loan offer for loan protection. |
| £700,001 to £1,000,000 | Financial questionnaire + copy loan offer for loan protection.* |
| Over £1,000,000 | The maximum amount of Critical Illness Cover and Life or Critical Illness Cover available is £1,000,000. |
- the maximum amount of Critical Illness Cover and Life or Critical Illness Cover available is £1,000,000.
* If Personal cover – independent verifiable proof of income (P60’s
for employed people and for self employed people notice of assessment, 3 years'
reports and accounts etc).
If Mortgage/loan cover – copy of final loan offer.
We will ask for evidence if the total amount of cover requested (including cover with other providers) is more than £400,000 for Critical Illness Cover on reviewable or guaranteed rates. The maximum Critical Illness Cover and Life or Critical Illness Cover we will offer is £1,000,000, however, Bright Grey will allow up to a maximum of £1,500,000 including cover from other providers subject to a maximum with Bright Grey of £1,000,000.
Employed applicants. Based on amount of yearly income*
| Income Cover for Sickness |
|
|---|---|
| Up to £50,000 | No automatic evidence |
| £50,001 to £150,000 | 2 years' proof of earnings (P60, P11D forms, tax assessments, payslips etc). |
| Over £150,000 | The maximum amount of Income Cover for Sickness available is £150,000 |
- the maximum yearly amount of Income Cover for Sickness available is £150,000.
* which may include the following benefits in kind that are shown on a P11D tax form and would stop if they were unable to work:
- living accommodation where they live and pay Council Tax;
- company car when used for private use;
- car fuel which is provided for use with their company car;
- beneficial loans, excluding loans for travel tickets;
- insurance such as critical illness insurance, private medical insurance and accident and travel insurance.
Self-employed applicants. Based on amount of yearly income
| Income Cover for Sickness |
|
|---|---|
| Up to £36,000 | No automatic evidence |
| £36,001 to £50,000 | Financial questionnaire |
| £50,001 to £150,000 | Financial questionnaire and 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 |
- the maximum yearly amount of Income Cover for Sickness available is £150,000.
