L&G improves and simplifies critical illness offering

Legal & General has updated its critical illness (CI) offering with improved cover and a simplified list of conditions.

The aim is to make its critical illness products much easier for advisers and customers to understand.

The new merged list of conditions should make it easier for intermediaries to explain to their clients what conditions are covered, allowing for more straightforward protection conversations. For example, ‘coronary artery by-pass grafts’ and ‘open heart surgery’ have been combined to ‘specified heart surgery’.

L&G says the conditions covered and quality of definitions are a crucial part of whether a CI claim is successful and more simplified wording will give customers greater understanding that a future claim could be accepted.

During recent polling by the insurer, 81% of intermediaries said they would prefer similar conditions to be merged together where it makes sense.

Legal & General’s critical illness offering also includes the following changes:

Craig Brown, director of intermediary, Legal & General, said: “Last year, our research into critical illnesses found that conditions like cancer and heart disease take a staggering £15.2bn a year out of Britain’s economy. Worse still, these terrible illnesses can have a hugely damaging personal impact, not just on the health of the individual affected but for the financial livelihood of their family, too.

“At Legal & General, our mission is to work together with intermediaries to ensure more people across the country are protected from the financial impact of a critical illness. That’s why we’re listening to our intermediary partners, the very people on the front line of conversations about cover, taking on board their feedback to improve our critical illness offerings.

“Quality over quantity is really important to us as a business. These latest changes improve the level of cover we offer to customers, but also reduce the complexity of critical illness products. We think that will make it easier for advisers to have those important protection conversations and explain these products to clients, while also giving consumers much more certainty over the support they have if and when they need it.”

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