CIExpert has positively reviewed Scottish Provident's three new alterations to its Self Assurance critical illness (CI) policy which take effect from 16th September.
Alan Lakey, director at CIExpert Ltd, said: "Cancer and heart attack are the conditions responsible for most claims. It is encouraging that Scottish Provident has focused on improving these two claim wordings.
"Similarly, extending organ transplant coverage to include lobe of liver or lung ensures that clients will not have a claim unreasonably rejected."
CIExpert said Royal London has now decided that Scottish Provident and Bright Grey should offer different conditions and compete as separate organisms where for the past two years the critical illnesses and their wordings have mirrored each other.
They have not included any additional conditions but have made significant changes to three conditions - two of which, cancer and heart attack, are responsible for around 75% of all CI claims.
Overall these changes will result in additional claims being paid which is positive, Lakey said.
Amended Conditions
• Cancer
The plan now specifically includes chronic lymphocytic leukaemia that has not reached Binet Stage A. It also extends cover to basal cell carcinoma and squamous cell carcinoma that has invaded and spread beyond the epidermis to the lymph nodes or distant organs.
• Heart Attack
The new definition no longer requires Troponin readings to have reached specific levels, it simply requires them or other enzyme levels to be raised. Alongside this change Scottish Provident has also reintroduced the requirement for typical clinical symptoms (e.g. characteristic chest pain).
• Major Organ Transplant
Like a number of other insurers Scottish Provident has extended cover to include the transplant of a lobe of the liver or a lobe of the lung.
