View more on these topics

Aviva enhances critical illness product

Aviva has added three new critical illness conditions and two new partial payments to its plan, as well as improving its heart attack and children’s cover definitions.

The new full payment conditions are Devic’s disease, which is similar to Multiple Sclerosis, spinal stroke and cardiac arrest, which is payable on suffering a cardiac arrest and undergoing insertion of a defibrillator.

The new partial payment conditions, paying the lower of £20,000 or 20 per cent of the sum assured, include bladder removal and non-malignant Pituitary Adenoma.

The plan now covers 53 conditions, 17 of which are Association of British Insurers plus, which means the definition goes beyond the trade body’s minimum definition requirements.

Aviva has improved its condition for heart attack by lowering the level at which a customer qualifies for payment. It has reduced the qualifying Troponin measurement, the universal method of confirming someone has had a heart attack, from 1 ng/ml to 0.2 ng/ml.

The provider will now pay a children’s death benefit of £5,000, which is payable from when the child hits 30 days old to the age of 18, or 21 if the child is in full-time education.

Aviva claims philosophy manager Andy Doran says: “It is always been our ethos to only add conditions which make a genuine difference to the customer, so we have worked very closely with our claims experts and used our claims experience to enhance our cover.

For example, no provider or adviser wants to be in the position of saying: ‘I know you have had a heart attack, but it is not bad enough’, so we have really concentrated on where we can add most value.”

Recommended

4

Labour: Govt has ‘failed savers’ on Nest restrictions

Labour says the Government has “failed savers and pandered to special interests” in deciding not to remove Nest’s restrictions until 2017. Pensions minister Steve Webb has today published a written ministerial statement confirming the Government’s intention to remove Nest’s £4,500 annual contribution cap and ban on transfers in and out in four years time. The […]

Providers turn away auto-enrolment business as ‘capacity crunch’ bites

Providers are warning of auto enrolment capacity issues with Scottish Life refusing business from firms less than six months from their staging date. Experts have previously warned insurers will struggle to meet the auto-enrolment demands of employers as the staging dates for small and medium-sized businesses approaches. A Scottish Life spokesman says the provider usually […]

Aviva warns charging ban fails to tackle ‘back-door’ payments

The Government’s draft rules to ban consultancy charging for automatic enrolment do not go far enough to tackle “back door” payments between providers and advisers, according to Aviva. Pensions minister Steve Webb laid out draft regulations before Parliament this week to implement the ban on consultancy charges for auto-enrolment, first announced in May. The draft […]

Castle Trust launches 2.99% three-year fix with Kent Reliance

Castle Trust is launching a product for first-time buyers which mirrors the Government’s Help to Buy equity loan and directly links its 20 per cent partnership mortgage with a three-year 70 per cent LTV fixed rate deal from Kent Reliance. Both Castle Trust and Kent Reliance have been funded by US private equity firm J.C […]

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Surely if Aviva really wanted to help the customer you would remove the Troponin measurement requirement entirely so that if the Dr has said you have had a heart attack, you get the pay out. This is a step in the right direction, but build some credibility for the insurance industry for once, these weasily things to get us out of paying claims are the reason customers do not trust insurers.

    Also does the inclusion of more and more CI defnitions such as Devic’s disease that the customer has never heard of nor will likely ever get really add value? Surely you are just creating an arms race within the CI world when if we just looked at what the customer really needs and looked at things like better rehabilitation after a CI claim things would get better.

  2. Devic’s disease? Feels more like devil’s disease. When are these providers gonna realise that customers don’t what 1001 different illnesses that they have never heard of. At least PruProtect are honest and have always advocated partial payments and a long list of illnesses.

    The FCA are now asking providers why they have included extra illnesses that are hardly ever going to pay out.

    On the troponine point, absolutely agree. Aviva clearly do not have the courage of their convictions. If they really believed in focusing on the customer they would remove the measure totally not just lower it.

  3. Here we go again with another insurer trying to complicate the CI definitions even further. Why are these insurer’s trying to play the game of “I have more illnesses than you”. The FCA needs to ask these insurer’s for their evidence that the coverage of these illnesses is truly in the customer’s best interests.
    As a claims professional I have seen one case of Devic’s disease in 20+ years.

Leave a comment