Existing cover / Total line
EC * TL
Existing cover is a term to describe the insurance cover an applicant already has in place to cover the same risk.
Concurrent cover is when an applicant has made a simultaneous application or intends to do so, but it is not in force yet. It can be seen as a subtype of existing cover.
When and how to ask for existing covers?
What existing covers do we accumulate for financial assessment?