Policy available as two options revealed as part of protection platform launch
Zurich Life has announced a series of critical illness updates alongside the launch of its new protection platform - Life Protection Platform.
The policy is available as two options - ‘core' and ‘select'.
Zurich's new ‘core' critical illness policy covers 40 of the most claimed for conditions with cover paid immediately if customers are put on a waiting list for one of seven major operations, plus customers will also be paid up to £25k if they are diagnoses with less advanced types of breast or prostate cancer.
Children's cover on critical illness is now an optional extra and cover can be added or removed throughout the life of the policy. Children will be covered from birth to their 22nd birthday for all 42 conditions and the policy will pay £5000 for the death of a child. A child can take out their own policy at age 16 without any underwriting for cover up to £25k.
Critical illness ‘select' option covers 51 medical conditions including mental illness, while 10 life-changing conditions diagnoses before age 50 will pay up to an additional £100,000. There's additional payments for 48 medical conditions including type 1 diabetes and less advanced cancers, plus £5000 payment for complications of pregnancy.
Children's critical illness is also an optional extra, but ‘select' customers will get enhanced children's cover for all 99 adult conditions including type 1 diabetes, six child-specific conditions and double payment for children's cancer and overseas treatment of any of the conditions.
Adam Higgs, F&TRC adviser services head of research, said for critical illness Zurich has "vastly improved their definitions and added a number of high incidence conditions for both adults and children to their 'select' offering that make them competitive with the big players in the market".
With child cover enhancements
£570 a month benefit
Asks Alan Lakey
Decided by 'independent' panel