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Pegasus launches new critical illness plan


Pegasus has launched a new critical illness plan the Personal Term Plan.


The new plan will offer guaranteed premiums and is one of several steps the company is taking to boost its share of the IFA critical illness market.


The life office has increased the range of illnesses across its range of CI plans and has cut its survival period in the event of a claim to 14 days.


Pegasus has also developed three additional options including CI cover buyback, a replacement cover option and a long term care option.


The buyback option allows someone who has made a CI claim to have new CI cover a year after the initial illness.


The replacement cover facility applies to joint life policies where cover has ceased on the first claim leaving the other partner without protection. The option allows the unaffected partner to start a separate policy with the same sum assured without the need for further underwriting.


The long term care option allows a &#39whole life&#39 CI policyholder to switch to LTC when they reach 65.


The new options are available from July 1.

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