Legal & General has made updates to its critical illness cover to reflect people's changing needs the “evolving medical landscape”.
Expanded definitions and new coverage for skin cancer and other severe illnesses have been added to Legal & General’s CI Extra products, as medical advances including early detection mean an increase in treatment for less advanced illnesses.
The expansion also affects Legal & General’s Children’s CI Extra, increasing the maximum age a child can be covered from their 22nd birthday to their 23rd, with the policy remaining in place whether or not the child is in full time education.
According to the company, this update reflects the fact many young adults are completing their studies later or taking gap years, while others are choosing to live at home with their parents for longer.
Legal & General Retail director of intermediary, Julie Godley, said: “We are happy to announce that our critical illness products now cover more areas and give our customers more options at a time when lifestyles in the UK are changing.
“Working with our intermediary partners and responding to the changing needs of our customers remains a key priority for us.
“Adding broader definitions for cancer, other serious illnesses and extending the number of customers covered by our Children’s CI Extra policies, demonstrates our commitment to improving our cover and ensuring our products match the needs of our customers.”
Meanwhile, both Children’s CIC and CI Extra now includes coverage for children under the legal guardianship of a policy holder, expanding coverage for adopted and stepchildren to reflect changing family structures in the UK.
Additionally, payments for conditions covered under Children’s CI Extra and Child’s Terminal Illness will increase from 50 per cent/£35,000 to a maximum of 50 per cent/£40,000 of the original sum assured.
The company also announced that, to address medical advancements, it would be broadening cancer definitions to include some progressive cutaneous lymphoma and sarcomas, while now also including low-grade thyroid cancer.
Cover for skin cancer of a specified severity has also been added, reflecting earlier detection and treatment rates for the condition through medical advances.
The definitions of Crohn’s disease and ulcerative colitis were also expanded and are now covered under the broader definition of severe bowel disease, which also covers diverticulitis and intestinal ischaemia.
In response, CIExpert director, Alan Lakey, said: “L&G was in danger of falling behind its competitors in the quality stakes, however the changes introduced to their Extra plan have regained its position amongst the elite.
“The new conditions that have been added serve to plug gaps where competitors claimed an edge.
“With its market-leading brand and sound claims philosophy, today’s changes will assist L&G in regaining market share that has been lost over the past 13 months.”
