CIExpert has revealed that Aegon has made some substantial improvements to its critical illness cover which elevates it higher within the CIExpert comparative tables.
Among a number of new conditions, as well as enhancements to existing condition wordings, it should also be noted that children now benefit from the additional payment conditions.
New Conditions
Devic's Disease
Technically known as Neuromyelitis Optica this neurological condition has similar symptoms and outcome to Multiple Sclerosis.
Parkinson Plus Syndromes
This condition incorporates five distinct conditions some of which are shown as individual conditions by some insurers - Multiple System Atrophy, Progressive Supranuclear Palsy, Parkinsonism-Dementia-Amyotrophic Lateral Sclerosis Complex, Corticobasal Ganglionic Degeneration and Diffuse Lewy Body Disease.
Spinal Stroke
Death of spinal cord tissue resulting in permanent deficit with continuing symptoms.
New Additional Payment Conditions - - Lower of £25,000 or 25% of sum insured
The following additional payment conditions have had the maximum payment uplifted from lower of £12,500 or 12.5% of sum insured to lower of £25,000 or 25% of sum insured:
Carcinoma in situ of the Breast
Severe Crohn's Disease
Severe Visual Loss
Ulcerative Colitis
Important Claim Wording Improvements
Benign Brain Tumour - Cover is extended to encompass all invasive surgery including partial removal of the tumour.
Deafness - The existing claims wording is harsh, requiring loss of hearing measured at 95 decibels or worse in the better ear. This is now improved to 90 decibels in the better ear thereby increasing the potential for a successful claim.
Motor Neurone Disease - The claim potential has been enhanced by the addition of spinal and bulbar muscular atrophy, which is also known as Kennedy's disease.
Other Matters
Alzheimer's Disease - This is no longer shown as a separate condition and is now sensibly included within the dementia heading.
Multiple System Atrophy + Progressive Supranuclear Palsy - These two conditions are no longer shown as stand-alone conditions but are included within Parkinson Plus syndromes.
Children's Cover - Children benefit from the new and the improved condition wordings but Aegon has now also extended cover to include the fifteen additional payment conditions
CIExpert Verdict
Aegon is a major protection office but has historically taken on the mantle of offering low cost but mid-division critical illness cover.
This upgrade provides an indication that they are upping their game and ensuring that the gap between them and the ‘top providers' does not widen unduly.
It is gratifying to see the additional payment conditions raised to the norm of £25,000/25% of sum assured and that these are also providing cover for children.
Further reading
CIExpert: Zurich no longer in the 'relegation zone' with CI plan upgrade
