Kevin Carr gives his verdict on five key developments in protection this month...
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4) Time (Clock of the heart)
According to L&G almost half of their group income protection claims for cardiovascular conditions, such as heart disease, come from the manufacturing sector. An analysis of all the company's group IP claims since 2000 show the manufacturing sector accounted for the greatest proportion of cardiovascular claims at 43%.
I've always felt that linking facts and statistics that are personally relevant to individual clients was a great way to highlight the need for protection. As such the more stats like this we have the better. VERDICT: Promising lead
Our protection detective assesses five key developments this month...
5) ABI+ and severity-based CI cover
Aviva has improved its critical-illness cover by covering three new partial payment conditions and upgrading five of its illness definitions. Each new condition will be eligible for a payment of up to £20,000, which is separate to the main policy, meaning the cover is still in place should the customer need to claim in the future.
Aviva has also improved five of its core definitions beyond ABI standards continuing the so-called ‘ABI+ race' amongst CI providers. But at the end of the day, better cover is better cover, which should be welcomed. VERDICT: Promising lead
