Providers expand Critical Illness cover for 2016
17th December, 2015
Several providers have expanded and enhanced their critical illness proposition to make it the most comprehensive offering they can for 2016, as well as ensuring the cover options and illness definitions are as clear and easy to understand as possible.
Leading provider Legal and General announced changes to its critical illness cover that incorporates the Association of British Insurers’ Statement of Best Practice 2014. This key industry document sets out to improve the customer understanding of critical illness cover, which is one of the keys to ensuring people are given the best opportunity to protect themselves. The insurer also enhanced the policy by adding Spinal Stroke and improving cover on Motor Neurone Disease, increasing the total illnesses covered to 42.
Provider AIG has also improved its critical illness offering, now covering more cancers than ever before and placing a greater emphasis on children’s’ critical illness cover to give families more support. Some see AIG’s changes in particular as laying down a challenge to other protection providers to follow suit.
Although some experts see adding more illnesses as exacerbating the “condition counting”, as providers compete to make their offering the most comprehensive possible, the Statement of Best Practice ensures that they are also working hard to make their literature and options clear for consumers.
Using an adviser is always recommended when considering critical illness cover, as they can assess your individual circumstances and needs as accurately as possible. Have a look at our quotes page above to find out more about critical illness cover.