View more on these topics

L&G adds illnesses to critical illness cover

Legal & General is launching a new critical illness product covering three additional illnesses.

The new policy now incorporates the mandatory changes to definitions of critical illness, as set out by the Association of British Insurers.

It also includes wider definitions for some illnesses, which are intended to improve clarity for consumers.

The three illnesses now covered are encephalitis, systematic lupus and primary pulmonary hypertension.

The new ABI statement of best practice 2006 for critical illness cover helps protect consumers by making providers use a common format and generic terms for describing critical illness cover.

Bonnie Burns, protection marketing director at Legal & General, says: We set out to raise the bar for critical illness cover and at the same time we have taken the opportunity to incorporate the ABIs new guidelines.

I believe we have successfully created the market-leading critical illness product whilst refining the definitions for the types of critical illness that we cover and adding three new illnesses to the policy.”

She adds: When people take out critical illness they want to know exactly what they are covered for and they want confidence that their policy is going to pay out if they have an eligible claim.

We already have a strong reputation for paying claims and paid out over 92m on critical illness last year.

Legal & Generals research showed that 76% of financial advisers say that a providers reputation for paying claims is vital to their clients.

The new critical illness definitions are designed to highlight when a policy will and wont pay out, helping to reduce the disappointment of declined claims.

Recommended

5D in service link with Crown

5D Finance has appointed Crown Mortgage Management as its servicing partner. 5D will continue to process applications inhouse through to completion and Crown will administer completed loans.

It’s time to speed up your service

Sealed bids and gazumping are making a comeback so being paid on completion is risky for brokers. The solution is for them to do things more quickly, says Mark Harris

Openwork reveals network growth

Openwork has grown its network base to 2,500 advisers.The number of advisers with Openwork at the end of 2006 was 2,451 but in the last two months the company has recruited a further 49 advisers.Phil Mogford, recruiting director, at Openwork, says: Since our launch in 2005 with 2,200 advisers we have consistently proven we have […]

paaleads teams up with TMA

Paaleads.com has agreed a deal to provide mortgage leads to The Mortgage Alliance.The lead generation firm has been approved by the mortgage club to supply leads, with TMA subsidising the cost of leads received by its members and offering a half price leads promotion throughout March and April.John Coffield, head of TMA, says: “To celebrate […]

Diversified cashflows are key

Dividends are under pressure in some areas: but reliable yields can still be found. So says Adrian Frost, manager of the Artemis Income Fund, in conversation with Lawrence Gosling.

Newsletter

News and expert analysis straight to your inbox

Sign up