Zurich Financial enhances protection proposition

Zurich Financial Services has announced that it is introducing a number of changes to its critical illness cover, following a review of its protection proposition.

Zurich said that as part of that review, guaranteed critical illness premiums will be reduced where an exclusion is applied for cancer or multiple sclerosis.

Zurich is also adding six new critical illness conditions, extending the total number covered to 38. In addition, Zurich is enhancing a number of existing definitions. These latest enhancements apply to Zurich's Level Protection and Decreasing Mortgage Plan.

Peter Hamilton, protection management director at Zurich UK Life, said: "We keep our proposition under regular review, and these changes reinforce our commitment to the market. We believe that reducing premiums where we exclude cancer or multiple sclerosis is a positive change and the right thing to do.

"We have also improved and added to our definitions, but not simply to play the numbers game. We have considered, but expressly rejected, including certain conditions, such as diabetes and rheumatoid arthritis. The definitions currently used in the market for these conditions are restrictive and will result in very few claims being paid, but they could easily lead to customers believing their cover is more extensive than it is."

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Related terms: arthritis, cancer, diabetes, mortgage