Legal & General has made a range of updates across its critical illness (CI) offering.
Updates include increasing additional payments for Critical Illness Extra (CIx) to 25% of the sum assured up to a maximum of £30,000, and Children’s Critical Illness Extra (CCIx) to 50% of the sum assured up to a maximum of £30,000.
It has also improved its definitions for heart attack and dementia, and added craniosynostosis to the list of conditions covered under CCIx.
Craig Brown, director of intermediary at Legal & General, said the updates will allow the insurer to better serve its intermediary partners, providing them and their clients with more choice of cover.
“We’ve updated our critical illness products this year with the launch of the optional Children’s Critical Illness Extra and Critical Illness Extra to add further choice to the CI range, and will continue to do so moving forward,” he added.
Alan Lakey, of CIExpert, said it was encouraging to see Legal & General continuing to challenge the other quality-based plans.
“The increase up to £30,000 for the additional payment conditions and to the child extra cover is a valuable move as is the confirmation that the initial child cover sum insured is non-reducing,” he added. “These are constructive enhancements which will benefit both policyholders and advisers.”
Adam Higgs, head of research for adviser services at F&TRC, said the changes sees L&G “plugging a couple of obvious gaps” in its proposition.
He said: “A much-improved heart attack definition, which was a weakness of the proposition until now has been added which no longer requires specific biochemical cardiac markers. The removal of an alcohol exclusions from their dementia including Alzheimer’s definition is also a welcome move.
“The amount paid for additional CI conditions is an area of the market where a number of insurers have made moves recently and Legal & General have followed suit by increasing the maximum they will pay on their Caixa proposition from £25,000 to £30,000 or 25% of the sum assured. Whilst the changes made are not dramatic, they reaffirm Legal and General’s aim to be one of the most comprehensive plans on the market.”