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Serious Illness Cover from Vitality


Pros

Cons
More conditions covered.More comprehensive cover costs more.
Improved definitions.Quite a lot of complexity.
Useful improvements to children’s coverNot every adviser buys into the Vitality philosophy.

The Product

Vitality has introduced a raft of changes and improvements to its Serious Illness plan. These include adding four new conditions:

• Desmond-type fibromatosis.
• Myasthenia gravis.
• Necrotising fasciitis.
• Severe sepsis.

In addition, changes have been made to a number of conditions’ definitions, including on:

• Heart attack.
• Carcinoma-in-situ.
• Motor neurone disease.
• Brain and spinal tumour.
• Third degree burns.
• Guillain-Barre Syndrome.
• Children’s TPD.
• Children’s cover. This now includes a children’s hospitalisation benefit (£100 a day for 14 or more consecutive nights up to £3K max) and cover for type 1 diabetes.
• Waiting lists. Twenty three conditions that require surgery will now be paid out on admission to an NHS waiting list rather than having to wait for the surgery itself.
• Booster. This allows the payment percentages on certain conditions to be increased to 100% payout.

What They Say

Deputy CEO Deepak Jobanputra said: "We pride ourselves in having the most comprehensive Serious Illness Cover in the market, and are delighted to confirm the addition of these new conditions to further our market-leading position. Being diagnosed with a life changing condition is a very difficult time for anyone, and having the right protection can give people important financial support at a very difficult time for them and their family. "I'm also pleased to announce an important change in how we assess Total Permanent Disability in children. Up until now we have used the same approach as we use for adults and this change will mean the assessment is relevant and more appropriate for children."

What We Say

"Vitality has long had a reputation for being one of the more innovative protection insurers, and these latest changes take its serious illness cover another stage towards being the perfect critical illness policy. "No insurer yet covers all critical illnesses, but Vitality’s approach is to cover most, then to add a raft of serious illnesses too, albeit with a reduced payout. You can even add the Booster option to increase the payout on certain conditions too. "Of particular note is enhancements to children’s cover, These include adding cover for type 1 diabetes, a hospital benefit of £100 day which is paid from the 14th day onward (up to a maximum of £3,000), and a new total permanent disability (TPD) definition which takes into account the nuances in assessing this condition in children. "Vitality’s products are rarely the most straightforward but, if you buy into its philosophy, these latest changes add up to a valuable extension of cover for customers."