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ScotEq enhances group dread plan

Scottish Equitable Employee Benefits is revamping its group critical illness contracts as part of its bid to become a market leader.

Seeb, which launched in May, is increasing its maximum cover limit before medical underwriting to £250,000 from £150,000. It believes this is the highest level available on the market.

Employees suffering from an illness diagnosed 10 or more years before cover begins, but who have not had any ongoing treatment within the last 10 years, may also be eligible for a reduced level of cover.

Seeb says the plan enhancements are aimed at increasing cost flexibility for employers, enabling them to provide a higher quality of critical illness cover for employees and their families.

Seeb is also increasing the number of medical conditions covered in its critical illness contract to 25 from 17. Employers can choose whether to provide cover for all 25 conditions or just seven core conditions at a reduced cost.

Marketing actuary Rod McCarthy says: “These changes mean our group critical illness contract has two unique features making it one of the most attractive contracts available on the market.

“As people are changing jobs more frequently, more and more employers are keen to offer a first-class benefits package to attract and retain good staff.

“This is a growing market for IFAs and one in whichwe intend to offer a market-leading range.”


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