Bright Grey has introduced a series of updated conditions and definitions on its critical illness insurance plans. Seven partial payments have been added, with a payout of 20% of the sum insured, up to a maximum of £15,000. The seven additional conditions are:
Borderline ovarian tumour. Not cancer, but requiring removal of an ovary.
Carcinoma in situ of the cervix uteri. Requiring hysterectomy.
Carcinoma in situ of the oesophagus. Requiring removal of all or part of the oesophagus.
Carcinoma in situ of the testicle. Requiring orchidectomy.
Carcinoma in situ of the urinary bladder.
Ductal carcinoma in situ. Requiring breast surgery.
Low grade prostate cancer.
In total, Bright Grey now covers 53 conditions, of which 43 result in 100% payout, ten are additional payout definitions and there are 15 ABI+ definitions. Bright Grey adds that it has leading definitions for the five most common claims and covers dependent children up to age 21. The insurer also offers a range of additional services to customers.
Comment: This month (September 2014) has seen a plethora of CI updates as insurers compete to offer the best cover. Bright Grey’s additions widen its cover but the bottom line on all CI plans is that if you have what you and your medical advisers believe is a critical illness that severely affects your life or life expectancy, you will expect a payout but you may have to wade through pages of complex medico-legal definitions to know if what you have is covered. There must be a better way…
Meantime, we welcome these changes as any widening of cover must (assuming the price is right) benefit those unlucky enough to get a condition now covered.
Plus points: Wider cover – seven new partial payments; On top of existing well-established cover; Additional help provided too.
Not so plus points: CI is getting ever more complex and customers will have little idea of what is or should be covered and many IFAs will struggle too unless they use a good third party comparison system.
Rating (max 10): Innovation: 7. Overall: 8. Gold
Tags: Bright Grey, CI