PruProtect’s Serious Illness Cover covers up to 154 illnesses compared to the UK average of just 27, according to the Pru. It offers financial protection against serious illnesses as well as advanced or life threatening ones and the results show that consumers are up to 24% more likely to be covered if they have a PruProtect policy. It also includes the option to renew the plan following a claim without further underwriting and without any additional exclusions. This provides customers with continuing protection for further events that may impact their lives.
Deepak Jobanputra, actuarial and product director for PruProtect, said: “This new research confirms what we have believed all along – that severity based cover is more appropriate for modern protection needs as the likelihood of making a successful claim is significantly better.”