Aviva makes 'common sense' changes to critical illness
‘Fine-tuning’
Alterations, whilst 'relatively minor', show insurer refusing to play the 'numbers game', says Alan Lakey
Aviva has removed loss of speech as a condition from its critical illness cover offering, as part of changes that have been described as "common sense" by CIExpert director Alan Lakey.
"Aviva has not paid a single claim [for loss of speech] in 15 years and we are not aware of a single claim being paid by any insurer," he said. "The overwhelming majority of instances are due to cancer or stroke, which of course are included as separate conditions."
Extra care cover
There are also amendments to the extra care cover option of the policy.
Currently segmented into four sections, it has been reduced to three. Section one is unchanged.
Section two, pays an additional £50,000 if diagnosed with dementia, motor neurone disease, Parkinson's disease or Parkinson plus syndrome. The qualifying age is being raised from 50 to 55 and is enhanced by the inclusion of kidney failure, liver failure, respiratory failure and heart failure (if the upgraded version is taken).
Section three has been adjusted whereby heart failure has been removed - as it has been moved into section two - and an inability to perform three of six daily activities replaces locked-in syndrome, permanently vegetative state and minimally conscious state.
Aviva's "fine-tuning" has been done to "reduce potential confusion," said Lakey.
Verdict
"We have long lamented the practice of adding conditions to play the numbers game," he continued. "Similarly, we have also voiced concerns about including conditions that will never result in a successful claim. In addition we always welcome any move towards simplicity, as today's plans are far more complex than their year 2000 counterparts.
"Aviva's changes, whilst relatively minor, are steps in the right direction and assists potential purchasers and advisers by reducing complexity and by not playing the condition numbers game," concluded Lakey.
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