Five more reasons to explore our improved Critical Illness Cover

4 May 2022
We can never know what’s around the corner.

Neighbours drinking coffee on steps

Many of us will know of someone’s battle to survive a serious illness, and anyone who’s watched a family trying to deal with these things will know that the financial and emotional impact can be devastating. While protection can’t stop the unthinkable from happening, it can make dealing with the consequences a lot easier.

Our Critical Illness Cover can help to reassure a client that if they get a critical illness, they and their family would be better equipped to cope financially, leaving them free of financial worry so that they can focus on recovery.

Our improved Critical Illness Cover is designed to support your clients by focusing on the conditions they’re more likely to get, providing the best outcomes for them and their families in times of need:

  1. There are around 7.6 million people living with heart and circulatory diseases in the UK. This means almost twice as many people are living with heart and circulatory diseases in the UK than with cancer and Alzheimer’s disease combined1.

    That’s why we’ve improved our definitions in this area – in addition to having nine full definitions covering the more severe cases, we’ve now added two less severe heart-related definitions to our additional cover conditions.

    There are around 200,000 new diagnoses of heart failure every year in the UK1. That’s why we’ve now added less severe heart failure to our additional cover conditions. And approximately 266,000 people in the UK have cardiomyopathy2, which is why we’ve added a less severe cardiomyopathy definition.

    We’re pleased that these new heart-related definitions have landed well in the market -  industry expert Protection Guru cites that the addition of our heart failure definition would cover an additional 17.5% of those diagnosed with heart failure cases3, and the addition of the cardiomyopathy definition would help cover an additional 12.5% of cases of this condition3.
  2. More CI support for deafness

    In the UK there are 12 million adults with hearing loss greater than 25 decibels. And by 2035, the Royal National Institute for Deaf People estimates there’ll be around 14.2 million adults with hearing loss greater than 25 decibels across the UK4.  We’ve therefore reduced the level of decibels as a measure of the extent of hearing loss from 95 to 70, which means that a client’s hearing loss will now need to be classified as severe rather than profound for there to be a valid claim.

    This is another change which has been welcomed by Protection Guru who have advised that this will mean an estimated four-fold increase in coverage for women and six- fold increase for men3.

    Improving our definitions to help children and families.

  3. Did you know that every 3 seconds, someone in the world dies of sepsis? In the UK alone, 245,000 people are affected by sepsis, with at least 48,000 people losing their lives to sepsis-related illness every year. This is more than breast, bowel and prostate cancer combined5. That’s why we’ve added severe sepsis to our additional cover conditions.
  4. We’ve also updated our definition of bacterial meningitis to remove the requirement for permanent symptoms. This should have the biggest impact on children’s critical illness claims as this condition was one of the most common reason for claim for our Children’s Critical Illness Cover in 20207.
  5. And we’ve expanded our spina bifida definition to increase coverage to include meningocele under our Enhanced Children’s Critical Illness definition.

    Protection Guru concluded that our updated wording for bacterial meningitis is a welcome addition as it’s estimated that at least 50% will fully recover without residual issues. And for our spina bifida definition change, they’ve also concluded that the change will likely increase the overall coverage of spina bifida by 25%3.  

What do these changes mean for our Critical Illness Cover?

Our Critical Illness Cover now includes 73 definitions: 46 full definitions and 27 additional cover conditions. With 14 of these being for heart -related conditions and surgeries, we’re focusing on the conditions your clients are more likely to get and helping them to get the best outcomes in times of need.

Find out more about our recent Critical Illness Cover improvements, and how these can help support your clients and their families.

Sources
1 British Heart Foundation, UK Factsheet, January 2022. Accessed April 2022
2 geneticalliance.org.uk – accessed April 2022
3 Royal London unveil critical illness improvements - Protection Guru – accessed April 2022
4 rnid.org.uk – accessed April 2022
sepsistrust.org – accessed April 2022
6 Sepsis | NHS inform website – accessed April 2022
7 Royal London UK intermediary protection business claims paid (1 January to 31 December 2020)

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About the author

Jennifer Gilchrist

Proposition Specialist

Jennifer Gilchrist is Proposition Specialist for Royal London’s intermediary protection business. Having worked in the industry for over 30 years, she has a wealth of experience in marketing and developing protection products and is a frequent press commentator. Jennifer’s had many articles and comment pieces published in the trade press. Outside work, you’ll often find her pounding the Edinburgh streets at 6am on a misty morning. She’s also an avid tennis fan but that extends to watching rather than playing!

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.