FTRC has released ratings for the 23 critical illness (CI) propositions offered by 13 protection providers that are included in its independent analysis.
The FTRC ratings are based on benchmarking the key features that advisers deem are the most relevant to consider when selecting the most appropriate CI cover for their clients.
A panel of independent medical practitioners review each provider’s CI claims definitions to establish the likelihood of a client being able to make a claim for the various conditions that are covered. Each condition is also weighted so the more prevalent conditions are reflected in the provider’s overall rating.
A gold, silver or bronze rating is awarded to a provider’s propositions based on how well they meet the advisers’ key criteria, how they stand up to the scrutiny of the claims review by the medical expert panel and the feedback on a provider’s CI proposition that FTRC receive from users of the Quality Analyser service.
This year, the propositions receiving a gold rating are: AIG CiC Start, AIG Your Plan, Aviva Upgraded, Guardian, Guardian Combined Life & CI, Legal & General Cix, Royal London Enhanced, Vitality Comprehensive SIC with booster, Vitality Primary SIC without Booster, and Zurich Select.
Silver ratings have been given to Aegon, Aviva Upgraded (no child upgrade), Canada Life, HSBC Plus, LV=, Old Mutual Wealth, Royal London and Scottish Widows.
Bronze ratings have been awarded to AIG Key 3, Aviva, HSBC Life, Legal & General and Zurich Core.
Adam Higgs, head of research adviser services at FTRC, said providers are responding to significant changes and advancements in the market. “With medical science moving at such a fast pace, providers are continuing to improve the CI protection cover they offer, so the ratings and supporting services we provide are proving to be a vital resource for advisers to ensure they continue to be confident in recommending the most suitable cover for their clients,” he added.