June 2015 Aviva: CI
Aviva has introduced a range of positive changes to its existing critical illness plans. The changes include: Critical illness cover is now an option within the Family Income Cover plan. Maximum age at entry has been increased to 64 (previously 59) and total and permanent disability and waiver of premium are now available up to age 70. Maximum cover has been increased from, £2m to £3m (£2m with TPD). The maximum term is now 50 years. A slicker, quicker quote and apply system, called Aviva Life Protection Solution (ALPS). The Life Insurance Options policy includes life cover, life change benefit,…
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June 2015 Zurich: CI
Zurich has introduced more changes to its existing CI plans. The changes include two new additions to 100% conditions: Cardiac arrest. Pays the full sum insured when treated by a defibrillator. Corticobasal ganglionic degeneration; Diffuse Lewy body disease; Parkinsonism-Dementia-Amyotrophic. These three neurological conditions pay the full sum insured on a definite diagnosis with permanent impairment of motor function, eye movement disorder, postural instability or diagnosis of dementia. New additional payment conditions have been added too for: Brain abscess. Cerebral arteriovenous malformation. Liver resection. Lobectomy. Syringomelia or syringobulbia. Third degree burns – minimum 5% to body or 19% to face. Changes…
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June 2015 Havensrock: IP
Havensrock is part of the Punter Southall group and launched in October 2014. Its new group income protection plan (GIP) is underwritten by Aviva and is distributed through Punter Southall Health and Protection Consulting (PSHPC). The product includes a conventional GIP core but with a strong emphasis on helping employers maximise productivity. Rates are guaranteed for three years and the plan is aimed at 50+ members (there is no maximum scheme size). Commission can be included or the plan sold on a nil commission basis. A useful online technical guide to the plan is available. On top of the traditional…
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June 2015 AIG Life: WL
AIG Life is the new name for what was Ageas Protect (and previously Fortis) and its new pure protection whole of life plan is available to customers aged 17 to 84 and offers sums insured up to £20 million. Premiums are guaranteed and the plan pays out on death at any time or on terminal illness at any time. Customers also have access to the Best Doctors service. There is no surrender value at any time. Customers can increase their cover by up to £5 million (if they are below age 90) if the government announces legislative changes to the…
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June 2015 Holloway Friendly: IP
Holloway Friendly is the original disability benefits insurer in the UK and its new hybrid plan pays up to 60% of gross income (up to a maximum of £120,000 a year) if the customer can’t work because of one of the specified critical illnesses. The benefit is paid monthly and there is a choice of 4, 13 and 26 week deferred periods. The plan can run to any age between 50 and 70 inclusive and the maximum age at the start is 54. Benefits can go up each year in line with increases in the Retail Prices Index (RPI) up…
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