Royal London updates critical illness cover
3 October 2016
Royal London today announces enhancements to its critical illness cover (CIC). The main change is to cancer cover; over 60 early stage cancers are now covered under nine definitions. This will result in more claims being paid. These changes are effective from 3 October. The changes provide clarity for advisers and customers by removing a long list of specified cancers. The additional cover definitions will pay a partial payment of the lower of 25% of cover or £25,000 for the following conditions:
- Carcinoma in-situ (other);
- Skin cancer;
- Coronary angioplasty;
- Central retinal artery or vein occlusion which results in permanent visual loss.
The survival period for CIC and children’s CIC has been reduced to 10 days (from 14 days) which means more claims can be paid and faster.
In addition, some definitions have been updated or added:
- A new Parkinson definition now includes Parkinson plus syndromes that incorporates multiple system atrophy and progressive supranuclear palsy.
- Motor neurone disease definition has been updated to include Kennedy’s disease. This change makes the definition ABI+.
Debbie Kennedy, Head of Protection at Royal London said, “Medical advances mean that cancer is often being diagnosed and treated earlier. Therefore more people require support at the early stages following a cancer diagnosis. We’ve enhanced our critical illness cover to provide financial support and our Helping Hand provides emotional support whenever the customer needs extra help. Cancer was the top reason for critical illness claims last year and by covering over 60 early stage cancers Royal London is demonstrating its commitment to paying more claims and including conditions that matter and really do add value for our customers.
For further information on these changes advisers should visit http://adviser.royallondon.com/protection/our-products/personal/critical-illness-cover/
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For further information please contact:
020 7506 6719
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £93.8 billion. Group businesses provide around 9.1 million policies and employ 3,106 people. (Figures quoted are as at 30 June 2016).