CIExpert gives its verdict on Legal & General as the latest insurer to upgrade its (CI) critical illness proposition, 17 months after its last set of improvements.
Alan Lakey, director of CIExpert said the insurer had done so to 'remain competitive' as the market had 'moved considerably' since the last time it made changes.
The major changes relate to heart attack and stroke which brings L&G into line with the likes of Ageas, Aviva and LV=, Lakey said.
Alterations to multiple sclerosis and carcinoma in situ of the breast will also increase or accelerate claims paid, he added.
Changes to existing CI conditions
Blindness L&G has followed Ageas, Friends Life, HSBC and Old Mutual Wealth in exceeding the ABI model wording by moving to a 6/60 Snellen score. The ABIwording is stricter than the clinical definition of ‘blind' so this change will resultin additional claims being paid.
Cancer L&G has now shed the exclusion for Chronic Lymphocytic Leukaemia unless
histologically classified as having progressed to at least Binet Stage A.
Deafness Like Old Mutual Wealth (formerly Skandia) and PruProtect (pays 50% of sum assured) L&G has lowered its claim requirement from 95 decibels in the better
ear to 70 decibels.
Heart Attack Like most of the leading insurers L&G has removed the requirement for a specified level of raised enzymes or troponins. This transforms the claimpaying
potential back to pre-2007 days when specific levels of troponins were
not required.
Multiple Sclerosis The claim requirement for "current symptoms" has been changed to "where there have been symptoms" which should reduce the delays associated with claiming under MS.
Stroke As per the industry trend the requirement for "persisting clinical symptoms"
has been lowered to "persisting clinical symptoms lasting at least 24 hours".
Carcinoma in situ of the Breast Previously Lobular Carcinoma in situ (LCIS) was excluded but the definition now incorporates all types of carcinoma in situ of the breast.
Consultants often offer LCIS sufferers the choice of electing to undergo mastectomy so as to reduce the prospect of future invasive cancer. The revised L&G definition
would enable such clients to successfully claim.
