PruProtect is enhancing its serious illness cover to include a number of new conditions alongside a new cashback rewards programme based on a client’s health score.
The Vitality Optimiser scheme will be offered on its PruProtect and Essentials plan and provide rewards for those who look after their health through the Vitality programme.
Benefits include an upfront discount as well as cashback each year as clients’ health scores progress through a pre-specified healthy living plan.
PruProtect’s SIC will now pay out on 166 conditions including on the diagnosis of cancers in all areas of the body and will also include cover on diagnosis of some non-melanoma skin cancers.
Typical cover has traditionally covered earlier forms of cancer in specific areas of the body such as the breast and testicles with payouts made only when the client has reached a specified level of treatment such as surgery.
The SIC will now also pay out on diagnosis of all heart attacks and strokes, regardless of symptoms or severity – the first time such cover has been offered.
Also being introduced to the market is cover for adults with insulin-dependent diabetes while children’s cover is now extended to the age of 23 years if in full-time education.
A new SIC Booster raises the payout on claims for a condition identified as having a long-term physical impact. This is increased further for clients with dependent children included on their cover plan.
PruProtect product and actuarial director Deepak Jobanputra says: “When people take out a critical or serious illness policy they expect to be covered for the most common conditions like cancer and heart attacks, no matter how severe. We’ve built the product that our clients would build.”
The scheme offers clients an upfront discount of up to 40 per cent off standard premiums based on the policy term as well as annual cashback for those who engage with the programne, up to £100 per policyholder.