My client, Steve, has just asked me to perform an overall review of his protection needs following the start of his new family. He's only 32 and has an existing 10-year-old critical illness policy (25-year term). Should I recommend keeping this for the better coverage it provides, or given his age should I re-broke him for a cheaper one?
Alan Lakey, Highclere Financial Services It is pretty much accepted that there are noteworthy differences between today’s plans and those of 10 years ago. A number of the policy wordings used back then are superior although there are many conditions covered today which were not included then. There is an element of trade-off with the major areas of concern being early stage prostate cancer and coronary angioplasty, both of which were fully covered by the majority of companies in 2000 but only available in a limited form today. Cost is an important consideration but we should really be f...
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