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Royal Liver updating cancer cover

Royal Liver has added two types of cancer to the conditions covered by its critical-illness policies following the Association of British Insurers’ recent changes to the definitions.

Money Marketing reported recently that the ABI has bowed to pressure from Swiss Re and changed its statement of best practice on CI in light of new medical evidence on two rare forms of cancer submitted by the reinsurer. The cancers were previously excluded as they were defined as pre-malignant conditions.

Royal Liver will be applying the changes retrospectively to any customers who bought life cover with guaranteed CI cover from October 15, 2006.

Royal Liver and Prudential are thought to be the first two providers which have introduced the ABI’s new CI definitions on their products.

CBK principal Peter Chadborn says: “It inspires confidence that providers’ systems can adapt so efficiently to changes like this.”


Standard queries advice

Standard Life has raised concerns over the quality of advice given to customers after it found that only 20 per cent of people switching out of its with-profits pensions were aware they might be giving up guarantees.Of 228 with-profits pension clients surveyed – some with at least 4 per cent annual guarantees on their plans […]

IFA shows value of advice with 50k boost

The Axa Avenue experiment has proved the value of financial advice, with IFA Saran Allot-Davey saving 10 families 50,000 over the course of a year.Heron House Financial Management managing director Allot-Davey took part in the social experiment which was sponsored by Axa and she was able to reduce the debt of 10 families by 23 […]


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