Zurich revamps critical illness proposition
20th June, 2016
After a strong 2016 for protection sales, with record highs not seen in the industry since 2012, providers are building on the success and improving their offering further on several policies. One of those who are looking to help provide further protection and clarity for new customers is leading provider Zurich. In total they have updated 50 definitions and have increased its total coverage to 85 conditions.
The provider has revealed that it paid out £65.4m over the last 12 months, with 59% of its total 788 critical illness claims, worth £48.3m, being in relation to cancer. That is why Zurich has focussed much of its new changes on the illnesses that matter most to customers. Having recently released details, the new offering includes three 100% conditions and 20 additional payment conditions.
With expanded coverage of a number of heart diseases and other conditions, the group has also focussed its overhaul of the policy to cover its three main areas: cancer, heart and neurological disorders. In its new offering the insurer has included payments for 22 less advanced cancers, including skin cancer.
After consumer and adviser feedback Zurich has also ensured greater clarity on condition definitions with improved claim wordings, as well as generally increasing the available cover for new customers. Zurich has said these changes will mean customers will be covered for all invasive cancers and the majority of early-stage cancers.
Have a look at our quotes page or contact us today if you would like to talk to us about finding the right critical illness policy for you.