Critical Illness

Protection Watch… with Kevin Carr (Oct 2014)

Kevin Carr gives his verdict on five key developments in protection in the last month...

This is the best collective effort in protection I've seen

Figures showing insurance companies declined fewer than 3,500 of more than 102,000 protection claims last year "shatter the illusion" that providers don't pay, according to stakeholders.

Aviva has enhanced its heart attack definition on new critical illness (CI) policies to pay out on the diagnosis of a heart attack regardless of severity.

Aviva has launched a specialist protection team to offer a tailored service for protection cases with high levels of cover and large premiums.

Aegon UK is proposing to make the role of protection distribution director redundant and has announced the exit of its head of protection proposition as part of wide-ranging changes to its protection unit.

Legal & General (L&G) is increasing the underwriting limits across its life insurance and critical illness (CI) products among other changes to its protection proposition.

Aviva has made changes to its critical illness (CI) cover - particularly concerning policyholders diagnosed with multiple sclerosis or who have had a stroke - with the aim of meeting more valid claims.

The challenge for protection insurers in today's market is to adapt their approach so products are "bought, not sold", a report by Swiss Re concludes.