Aegon's upgrade to its critical illness (CI) offering whilst adjusting to the model wording changes introduced by the ABI in December 2014 are overall ‘positive', CIExpert has said.
Alan Lakey, director of CIExpert, said: "A number of the changes are cosmetic inasmuch as they tidy up definition wordings with no or minimal impact on the ability to pay a claim.
"The major changes relate to Heart Attack where the requirement for a specific level of raised enzymes has been removed and CIS of the Breast where the definition falls into line with the leading wordings.
"Additionally, the guaranteed insurability option has been extended to accommodate divorce and a joint life separation on divorce option has been included. Waiver of premium can now be taken to age 70."
Alzheimer's Disease
The claim wording has been changed and no longer requires that the policyholder be unable to "give effect to ideas."
Benign Brain Tumour
Now excludes tumours originating from bone tissue, in line with the ABI model wording.
Cancer
The wording for basal and squamous cell carcinoma has been simplified by removing the requirement for malignancy.
Carcinoma in situ of Breast
Aegon has "fallen into line with the rest of the industry" CIExpert said, by extending cover to any surgery to remove the tumour rather than require a full mastectomy. Lobular Carcinoma in situ is now specifically excluded.
Heart Attack
The requirement for a specific raised Troponin level has been removed and "findings on a heart scan" has been added to the claim requirements, broadening the range of diagnostic tests allowed.
Kidney Failure
The wording has been tidied to bring it into line with the revised ABI model wording.
Major Organ Transplant
The wording now clarifies that the transplant must be "from another donor" in line with the ABI wording.
Motor Neurone Disease
The wording has now been made precise showing the four specific conditions included, in line with the ABI model.
Multiple Sclerosis
The requirement for three months' continuous impairment has been removed.
Parkinson's Disease
"Postural instability" is no longer required to trigger a successful claim, Parkinsonian Syndromes and Parkinsonism are specifically excluded and the drug exclusion has been removed.
Stroke
The claims wording has been expanded to allow persisting clinical symptoms for 24 hours and eye strokes are specifically excluded.
Traumatic Brain Injury
The condition has been renamed from Traumatic Head Injury, in line with the ABI model wording.
Further Reading:
Aegon announces protection changes to ‘modernise' offering
CIExpert: Aviva brings CI policy into line with 'market leaders'
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