Bright Grey’s critical illness menu products now provide cover for 48 illness definitions, with 41 paying the full amount of cover and seven paying out a smaller lump sum in addition to the full cover. Some 12 definitions are classed as ABI+ by exceeding the ABI’s standard definitions.
Jennifer Gilchrist, senior product development manager, Bright Grey, said: “Cancer is a word that none of us want to hear but it is by far the biggest critical illness risk people face. Fortunately with diagnosis and treatment now taking place much earlier and often before the cancer becomes severe, more and more people are surviving the disease. This is why it is important to ensure the critical illness policy recommended to clients pays out, not only for more advanced stages, but for early forms of cancer too.
“Successful claims for additional covered conditions have the added value of not reducing the original amount of the critical illness covered. Therefore, introducing three more additional early stage cancer conditions will give customers greater protection.
“We also recognise that while a financial payout is essential to help people to continue to have some financial security, anyone diagnosed and being treated for cancer faces difficulties that money alone can’t overcome. That is why we include our Helping Hand service, providing practical and emotional support, with all menu protection plans.”
The three additional conditions which pay 20% of the sum assured, over and above the original sum assured, up to a maximum of £15,000 are:
• Carcinoma in situ of the oesophagus – requires a definite diagnosis and surgery to remove some or all of the oesophagus.
• Carcinoma in situ of the testicle – requires a definite diagnosis and surgery to remove one or more testicles.
• Carcinoma in situ of the urinary bladder – requires a definite diagnosis but excludes non-invasive papillary carcinoma, stage Ta urinary bladder carcinoma and all other forms of non-invasive carcinoma.
The major organ transplant definition has been extended to provide cover for the transplant of the whole lobe of the lung or liver.
Alan Lakey, director of CI Expert, said: “With Royal London deciding that Bright Grey and Scottish Provident should differentiate their offerings and compete as separate organisms this is the first upgrade by Bright Grey as part of the initiative.
“They have included three additional partial payment conditions and have upgraded the major organ transplant claim wording. The partial payments extend to the lower of £15,000 or 20% of the insured amount.
“Carcinoma in situ of the oesophagus affects around 200 each year of which over half are over age 65 and three quarters are male.
“Up to 400 people suffer from Carcinoma in situ of the testicle each year but only 250 instances of orchidectomy (removal of a testicle) are carried out. Around 50% of these operations are carried out on the over 65s.
“Each year nearly 3,000 people are diagnosed with carcinoma in situ of the urinary bladder with diagnosis being progressive linked to increasing age. Only 35% of sufferers are aged below 65. It affects four times as many males as females.”