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AMP cuts lump sum process

AMP claims to have slashed the time it takes customers to fill in applications for lump sum insurance.

Medical questionnaires for death cover have been slashed to as few as 10 questions in an update to the company’s “easywrite” underwriting service.

Customers can now access death cover in 10 minutes, the company claims. Both personal and superannuation insurance are included.

AMP says it has cut the time involved by removing extraneous information.

Customers complete the application process over the phone or online.