Skandia Life has launched a critical illness (CI) term policy with rolling cover for ten year periods.
The product, called Skandia Protect, offers a guaranteed renewal option without underwriting. Each time the policyholder uses this option, the cover and new premium are guaranteed for a further ten years.
Other options include insurance with or without life cover and the option to reinstate CI cover after a claim.
Additionally, Skandia Protect offers CI claimants services of an independent organisation, Best Doctors, to find the best treatment.
Skandia Protect also covers two new illnesses. One is cardiomyopathy, an inflammation of the heart muscle and the other is progressive supra-nuclear palsy, a form of Parkinson’s disease. Skandia Life senior marketing manager life and investment Lynda Cox said: “The bad thing about term assurance is that if you write it for a long period the client is likely to be in ill health and won’t be able to renew cover. With Protect, you get a clear picture of what the policy is going to cost you.”