The ABI has published its latest update to the critical illness (CI) statement of best practice which it hopes will improve customer understanding of the product.
It includes a new set of standard definition for total and permanent disability (TPD), a change in wording for the terminal illness definition and the standardisation of pre-existing conditions exclusion for children's cover. The Association will also produce training materials for advisers, an online hub of information and a claims process map for consumers which it believes will make claiming easier and increase successful claims. The new statement is the result of extensive consultation and research into what customers need and where there have been problems in the past. Origina...
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