Three new additional benefits:
- Five new ABI+ definitions
- Top four conditions accounting for 90% of claims are now ABI+ definitions
- Child CI cover payment raised to up to £25,000
Changes also include additional benefits for new conditions, new ABI+ definitions and increased maximum payments for child CI cover.
To help clarify illnesses covered under the policy, Aviva has also separated out some of the conditions previously included within its total permanent disability definition. This means that 48 individual conditions will be covered under Aviva's CI policies for new customers going forward.
In order to help advisers and customers understand what is covered, the insurer has also produced a comprehensive guide, to show at a glance which conditions are included and the level of payment for each.
Robert Morrison, chief underwriter for Aviva says:
"We understand that many people find critical illness policies confusing, so we've reviewed our cover with this in mind. We're committed to designing clear, effective products and we are confident these changes will help both advisers and customers to understand the excellent level of cover we offer.
"Our CI cover has evolved over time, to make sure we are helping as many people as possible. We're determined that we only add conditions which increase breadth of cover and provide greater clarity for customers. We know exactly which conditions account for the largest number of claims, so we've taken great care to make changes where customers will benefit most."
In 2011 Aviva paid 94.1% of critical illness claims. For the last two years (2010 and 2011) Aviva has paid the highest percentage of critical illness claims, compared to results published across the insurance industry.
